CMA approves Liaison Financial Services Limited as an Investment Advisor
Nairobi, July 1, 2015…Capital Markets Authority (CMA) has announced the issue of a license to Liaison Financial Services Limited to operate in Kenya’s capital markets as an Investment Advisor under the Capital Markets Act and Regulations.
Liaison Financial Services Limited recently acquired the African business of Knutson Global Incorporation who has been at the forefront of the promotion of Asset-Backed Securities (ABS), Municipal Development Bonds (Muni Bonds) and Consumer Lending in Africa. The approval will enable Liaison Financial Services Limited to offer support to and guide firms interested in and ready to execute Asset-Backed Securities transactions in Kenya and other East African Partner States. Liaison Financial Services Limited has predominantly provided innovative services in the retirement and pension scheme consulting and administration.
An investment advisor is a person or group licensed under the Capital Markets Act to make investment recommendations or conduct securities analysis in return for a fee whether through direct management of a client’s assets or through written publications.
The approval lifts the number of investment advisors licensed by the Authority to 16.
BACKROUND INFORMATION ON THE CAPITAL MARKETS AUTHORITY
The Capital Markets Authority (CMA) was set up in 1989 as a statutory agency under the Capital Markets Act Cap 485A. It is charged with the prime responsibility of both regulating and developing an orderly, fair and efficient capital markets in Kenya with the view to promoting market integrity and investor confidence. The regulatory functions of the Authority as provided by the Act and the regulations include; Licensing and supervising all the capital market intermediaries; Ensuring compliance with the legal and regulatory framework by all market participants; Regulating public offers of securities, such as equities and bonds & the issuance of other capital market products such as collective investment schemes; Promoting market development through research on new products and services; Reviewing the legal framework to respond to market dynamics; Promoting investor education and public awareness; and Protecting investors’ interest.