ADVOKS GLOBAL · KENYA
The Capital Markets (Licensing Requirements) (General) Regulations
48. Functions and membership on a securities exchange
Edition: 2023-10-06 · In force
48. Functions and membership on a securities exchange
(1)An authorized securities dealer shall be—(a)restricted to dealing in fixed income securities whether listed on an approved exchange or not;(b)entitled to trade on behalf of others as well as on their own account in such segment; and(c)required to implement necessary operational, trading and settlement procedures and systems necessary to minimize settlement and counter party risk and manage conflicts of interest.(2)A person licensed by the Authority as an authorized securities dealer shall be eligible to apply to be admitted as a trading participant with a securities exchange:Provided that the authorized securities dealer meets the eligibility requirements of the admitting securities exchange.(3)An authorized securities dealer shall comply with the provisions on client accounts, conduct of business, prohibited dealings and associations and investment requirements and appointment of custodian relating to stockbrokers, stockbroking agents, dealers, investment advisers and fund managers and payment of transaction and investor compensation fees relating to stockbrokers and dealers as set out in these Regulations, where applicable.