ADVOKS GLOBAL · KENYA
The Capital Markets (Licensing Requirements) (General) Regulations
36. Custodian’s records and reports
Edition: 2023-10-06 · In force
36. Custodian’s records and reports
(1)A custodian shall keep such records as may be necessary to ascertain—(a)the entire fund of the investment portfolio held by the custodian;(b)each transaction carried out by the custodian on behalf of the fund manager as the case may be.(2)The records referred to in paragraph (1) shall be subject to inspection by the fund manager as the case may be or a duly authorized agent of the Authority within the premises of the custodian at any time during business hours.(3)The custodian shall make available to the fund manager—(a)a written statement at agreed reporting dates which lists all assets of the fund manager’s clients in the clients’ account(s) together with a full account of all receipts and payments made and other actions taken by the custodian;(b)an advice or notification of any transfers of property or securities to or from the fund managers clients’ account(s) and indicating the securities acquired for the account(s), the identity of the party having physical possession of such securities; and(c)a copy of the most recent audited financial statements of the custodian prepared together with such information regarding the policies and procedures of the custodian as the investment manager or fund manager may request in connection with the agreement or the duties of the custodian under that agreement.(4)The custodian shall prepare and submit to the Authority an annual report demonstrating how compliance with these Regulations and its service agreement have been achieved.