ADVOKS GLOBAL · KENYA
The Capital Markets (Licensing Requirements)(General) Regulations, 2025
38. Specific requirements for licensing.
Edition: 2025-12-11 · In force
38. Specific requirements for licensing.
(1)The application under regulation 37 shall be accompanied with—(a)certificate of incorporation;(b)memorandum and articles of association;(c)a statement of the applicant’s audited accounts for the preceding two years, where applicable, and un-audited accounts for the period of the accounting year ending not earlier than six months prior to the date of application;(d)a business plan containing the particulars stated in the Second Schedule of these regulations;(e)the shareholding structure, disclosing whether any of the shareholders will have an executive role to oversee the day-to-day operations of the business;(f)the evidence of a minimum paid-up share capital as provided in regulation 39(1);(g)the qualifications, experience and expertise of the chief executive officer;(h)the proposed management and qualifications of key personnel;(i)the particulars of the proposed operating and information technology system;(j)the physical address of the proposed premises suitably located and equipped to provide satisfactory service to clients in the field of activity to which the license relates;(k)the staff capable of providing professional services to clients in the field of activity to which the license relates;(l)the proposed independent auditor; and(m)the fees prescribed in the Sixth Schedule.(2)Each person who is, or is to be, a director, chief executive officer or manager of a fund manager, shall be fit and proper to hold the particular position which he holds or is to hold.