ADVOKS GLOBAL · KENYA
The Capital Markets (Online Foreign Exchange Trading) Regulations
33. Prohibited conduct
Edition: 2023-10-06 · In force
33. Prohibited conduct
(1)An online foreign exchange broker or money manager shall not engage in any foreign exchange transaction that is prohibited by any written law.(2)An online forex broker, a money manager or an associate of an online foreign exchange broker or money manager that is engaging in any foreign exchange transaction shall not—(a)cheat, defraud or deceive, or attempt to cheat, defraud or deceive any person;(b)willfully make or cause to be made a false report, or willfully enter or cause to be entered a false record in or in connection with any foreign exchange transaction;(c)disseminate, or cause to be disseminated, false or misleading information, or acknowledge inaccurate report, that affects or tends to affect the price of any foreign currency;(d)engage in manipulative acts or practices regarding the price of any foreign currency or foreign exchange transaction;(e)willfully submit materially false or misleading information to the Authority or its agents with respect to foreign currency transactions; or(f)embezzle, steal or knowingly convert any money, securities or other property received or accruing to any person or in connection with foreign exchange transactions.(3)A person who engages in any conduct that is prohibited under paragraphs (1) or (2) commits an offence.