Regulatory Alerts2017-01-01
Capital Markets (Online Foreign Exchange Trading) Regulations 2017
These regulations establish a comprehensive licensing and operational framework for online foreign exchange brokers and money managers operating in Kenya, mandating strict capital requirements, segregated client accounts, and adherence to professional conduct standards. Licensed entities must appoint compliance and anti-money laundering reporting officers, maintain detailed financial records, and submit regular performance reports to the Capital Markets Authority. The rules also prohibit offering binary options or currency pairs involving the Kenya Shilling and grant the Authority powers to conduct inspections, suspend, or revoke licenses for regulatory non-compliance.
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