The Retirement Benefits Authority (RBA) introduced the Retirement Benefits Practice Notes as per Gazette Notice No. 1239. These notes, developed under section 55(3) of the Retirement Benefits Act, 1997, aim to provide a structured approach for managing defined benefit (DB) schemes. Key Objectives and Scope The Practice Notes serve several critical purposes: Guidance: They offer […]
CONSUMER PROTECTION IN SECURITIES MARKET: PROTECTING THE RETAIL INVESTOR
Consumer protection laws and policies aim to safeguard consumers from unfair trade and credit practices. In Kenya, these regulations are established by the Constitution and the Consumer Protection Act & Regulations. They primarily target prohibiting false and misleading representation, unconscionable conduct and liability in respect of unsuitable and defective products. Private placement refers to sale […]
Key Amendments to the Trustee (Perpetual Succession) Act: What You Need to Know
On 24th April 2024, the President assented into law the Statute Law (Miscellaneous Amendments) Bill of 2023, which introduced significant changes to 16 Acts of Parliament, including the Trustee (Perpetual Succession) Act Cap 164 (herein referred to as the Act). Below, we discuss the key amendments to the Act and their implications. Registrar of Companies […]
The Role of Remittance Service Providers in Kenya
In our article titled, “Insights into Exchange Rates and Foreign Exchange Regulations in Kenya” we highlighted various remittance providers licensed by the Central Bank of Kenya. In this article, we will focus on the roles of these Remittance Service Providers and how they partner with banks in Kenya to offer remittance services. What is Remittance […]