ADVOKS GLOBAL · KENYA
The Capital Markets (Licensing Requirements) (General) Regulations
45. Application for licence
Edition: 2023-10-06 · In force
45. Application for licence
(1)An application for a licence to operate as an authorized securities dealer shall be submitted to the Authority in Form 1 set out in the First Schedule.(2)An applicant shall be—(a)a bank licensed under the Banking Act (Cap. 488);(b)an investment bank or a fund manager;(c)an insurance company licensed under the Insurance Act (Cap. 487); or(d)any other person who meets the requirements of this Part and approved by the Authority,and who shall demonstrate effective capacity and expertise in dealing in securities.(3)An applicant under paragraph (2) shall demonstrate effective capacity and expertise in dealing in securities.(4)An authorized securities dealer who intends to be admitted as a trading participant at a securities exchange shall submit a letter from the securities exchange, which the applicant is seeking admission to as a trading participant, confirming that applicant shall be admitted into the securities exchange upon securing a license from the Authority.