ADVOKS GLOBAL · KENYA
The Capital Markets (Licensing Requirements) (General) Regulations
22. Conduct of stockbrokers and dealers
Edition: 2023-10-06 · In force
22. Conduct of stockbrokers and dealers
(1)Stockbrokers and dealers shall—(a)operate independently of any other stockbroker or dealer;(b)conduct the business efficiently, honestly, and fairly, with the integrity and professional skills appropriate to the nature and scale of activities;(c)have no formal or informal agreement with a trading participant of the same securities exchange whether through an association or not, relating to the stockbroker’s or dealer’s trading activity, personnel, commissions or any joint activity that is likely to undermine the competitiveness or fair trade practices and service to clients.(2)Without prejudice to the generality of paragraph (1), in consideration whether a stockbroker or dealer is conducting or will conduct business efficiently, honestly and fairly, regard shall be made to the management and organizational structure, reporting principles and procedures, internal audit procedures, procedures for compliance with the securities laws and risk management policies which the stockbroker or dealer has adopted or proposes to adopt for its business.