ADVOKS GLOBAL · KENYA
The Capital Markets (Licensing Requirements) (General) Regulations
52. Determination of suitability
Edition: 2023-10-06 · In force
52. Determination of suitability
In determining whether a person is fit and proper to hold any particular position, regard shall be had to—(a)his probity, competence and soundness of judgment in fulfilling the responsibilities of that position;(b)the diligence with which he is fulfilling or likely to fulfil those responsibilities;(c)whether the interests of customers, are or are likely to be in any way threatened by his holding that position, by virtue of past convictions or offences, involvement in irregularities, misappropriation of funds or manipulation of securities markets transactions;(d)has contravened the provision of any law designed for the protection of members of the public against financial loss due to dishonesty or incompetence of, or malpractice by, persons engaged in transacting with marketable securities;(e)was a director of a brokerage firm that has been liquidated or is under liquidation or statutory management;(f)has taken part in any business practice that, in the opinion of the Authority, was fraudulent, prejudicial or otherwise improper (whether unlawful or not) or which otherwise discredited his methods of conducting business;(g)has taken part or been associated with any other business practice as would, or has otherwise conducted himself in such manner as to, cast doubt on his competence and soundness of judgment;(h)whether he has been convicted of an economic crime under the Anti-Corruption and Economic Crimes Act (Cap. 65).