The Capital Markets (Online Foreign Exchange Trading) Regulations

11. Revocation of a licence

Edition: 2023-10-06 · In force

11. Revocation of a licence

The Authority may, after giving the applicant an opportunity to be heard, by order, in writing, revoke the licence of a dealing or a non-dealing online foreign exchange broker or money manager where the Authority is satisfied that—

(a)the reasons for the suspension of a licence under regulation l0 have continued during the period of suspension;

(b)a dealing or non-dealing online foreign exchange broker or money manager—

(i)has engaged or is engaging in insider trading, market manipulation or any other unfair practice or market abuse;

(ii)has been found guilty of fraud or convicted of a criminal offence; or

(iii)has not complied with the directives of the Authoriry or;

(c)it is necessary for the protection of investors.

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Source: Kenya Law