1 PREAMBLE :
A code of Ethics and Standards of Professional Conduct to provide for the conduct, practice and discipline of the Members of the Kenya Association of Stockbrokers and Investment Banks (KASIB).
2 INTERPRETATION:
In this Code of Ethics and Standards of Professional Conduct, unless the context otherwise requires the singular shall include the plural and the use of one gender shall include any other and:
(a) "the Act" shall mean the Capital Markets Authority Act, Cap 485 Laws of Kenya.
(b) "Agent" shall mean an employee, servant, appointee or any representative of a member firm and shall include a floor trader, financial analyst, supervisor, authorised clerk, principal officer, investor agent or any other such person appointed by a member in relation to any conduct of the member's business.
(c) "the Arbitration Committee" shall mean the Committee of three (3) members of the executive board constituted to do arbitration under the rules herein.
(d) "the Association" shall mean the Kenya Association of Stockbrokers and Investment Banks.
(e) "the Authority" shall mean the Capital Markets Authority as duly established under the Act.
(f) "Business" shall include a deal and shall mean the transaction of buying, selling, trading or retailing in stocks and securities.
(g) "Client" shall have the same meaning as customer and shall mean persons or body of persons given services by a Stockbroker at a Commission and shall include prospective clients.
(h) "Commission" shall mean the fees or charges prescribed by the Authority and payable to a member by its clients in connection with its services at the market.
(i) "the Constitution" shall mean the Constitution of the Kenya Association of Stockbrokers and Investment Banks.
(j) "the Council" shall mean the Council of all the voting members of the Association.
(k) "the Exchange" shall mean the Nairobi Securities Exchange Limited.
(1) "the Executive Board" shall mean the Board of the Association.
(m) "Investment" means the purchase of Stocks and Securities at the Exchange and for an interest or Profit. .
(n) "Issuer" shall mean any Public Company or other legal entity whose Securities are listed on the Exchange or are the subject of an application for issuing.
(o) "Licence" shall mean the licence to operate as a Stockbroker or dealer issued by the Authority.
(p) "the market" shall mean the business of Stockbrokers.
(q) "Member" shall mean a member of the Kenya Association of Stockbrokers and Investment Banks.
(r) "Month" shall mean any period of thirty (30) days.
(s) "Securities" shall include shares, stocks, bonds, debentures or any other from of Instruments of trade at the exchange.
(t) "Stockbroker" shall mean a firm licensed by the Authority as a member of a lawfully constituted securities exchange and authorized to carry out therein the business of stock-broking and includes any person or body
of persons authorized to conduct business on the firm's behalf
(u) "the rules" shall mean the rules set out in this Code of Ethics and Standards of Professional Conduct.
(v) "Year" shall mean any period of twelve (12) months and need not commence on the 1st day of January and end on the 31st day of December.
