Circular to Custodians of Registered Collective Investment Schemes

CMA CIRCULAR NO. 02/2023

June 22, 2023

To: ALL CUSTODIANS OF REGISTERED COLLECTIVE INVESTMENT SCHEMES

RE: SUBMISSION OF QUARTERLY REPORTS OF REGISTERED COLLECTIVE INVESTMENT SCHEMES ASSETS UNDER CUSTODY

Regulation 37 (a) of The Capital Markets (Collective Investment Schemes) Regulations, 2001 (CIS Regulations) requires that the custodian must provide to the fund manager, trustee or board of directors as the case may be, and to the Authority among other documents, a written statement at agreed reporting dates which lists all assets of the scheme account(s) together with a full account of all receipts and payments made and other actions taken by the custodian.

The purpose of this Circular is to provide guidance on the submission of reports to the Authority. In line with the CIS Regulations, all custodians of Registered Collective Investment Schemes are required to submit reports of assets under custody on a quarterly basis within fifteen days of the end of each calendar quarter. The first submission is expected by July 15, 2023.

Please find attached template to provide guidance for reporting of the funds under custody.

Kindly ensure compliance and do not hesitate to contact the Authority through financialanalysis@cma.or.ke in case you require further clarification.

Yours faithfully,

FCPA Wyckliffe Shamiah CHIEF EXECUTIVE OFFICER