Regulatory Alerts2024-01-01
Minimum Standards for Operating Premises of Securities Market Players Directive, 2024
Issued by the Registrar of Financial Institutions, this Directive mandates that securities market players operate from premises approved and certified according to prescribed infrastructure standards. Market participants must secure prior written Registrar approval for acquiring, renovating, relocating, merging, or closing locations and comply with detailed requirements covering security systems, strong rooms, IT infrastructure, and fire safety. The Registrar conducts routine inspections to verify compliance, issues premises certificates, and enforces adherence through monetary penalties of up to K50 million or certificate revocation.
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