ADVOKS GLOBAL · KENYA
The Capital Markets (Licensing Requirements)(General) Regulations, 2025
47. Duties of trustees
Edition: 2025-12-11 · In force
47. Duties of trustees
Each trustee shall take reasonable care to ensure—(a)that a scheme is managed by the fund manager in accordance with the scheme documents, and these regulations;(b)in relation to investment powers, that decisions about the constituents of the assets under management of the scheme do not exceed the powers conferred on the fund manager;(c)that any irregularity or undesirable practice that it is aware of is notified to the fund manager and where no action is taken by the fund manager, the trustee to report the same to the Authority;(d)that it avoids conflicts of interest and treats the interests of all participants paramount in all matters; and(e)when acting as a note trustee to ensure that the provisions of the trust deed are adhered to and that the interests of the bond holders are taken care of.