Regulatory Alerts2023-01-01
Capital Markets (Alternative Investment Funds) Regulations, 2023
The Cabinet Secretary for the National Treasury and Economic Planning issued these regulations to establish a comprehensive regulatory framework for Alternative Investment Funds in Kenya. The rules require fund managers to obtain Capital Markets Authority approval by meeting eligibility criteria, maintaining a minimum KES one million initial investment per participant, and adhering to strict transparency, valuation, and reporting obligations. Furthermore, the regulations mandate quarterly disclosures, annual independent valuations, defined inspection rights for the Authority, and clear procedures for fund default, manager replacement, and orderly winding up.
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