ADVOKS GLOBAL · KENYA
The Capital Markets (Securities Lending, Borrowing and Short-selling) Regulations
17. Suspension or price control
Edition: 2022-12-31 · In force
17. Suspension or price control
(1)The Authority may suspend the short sales of a security or impose controls on the prices that may be input on short sales of a security—(a)where the price movements of the security meet the conditions set out in the relevant rules of a regulated securities exchange or other infrastructure provider for the imposition of price controls or suspension of trading;(b)where the short sales of the security have been temporarily prohibited under the rules of a regulated securities exchange;(c)where the short sales of the security that is trading in Kenya have been prohibited in another jurisdiction or have been made subject to price controls as a result of concerns about market order; or(d)to maintain or restore the fair, efficient and transparent trading in the security.(2)The Authority shall review suspensions of shorts sales or impositions of price controls on short sales under subregulation (1) at least once a week.(3)Where the Authority has reviewed a suspension of a short sale or the imposition of price controls on a short sale under subregulation (2), it may—(a)maintain the suspension or the price control;(b)lift the suspension; or(c)remove the price control.