The Capital Markets Authority (CMA) has issued a statement confirming that Standard Investment Bank (SIB) is licensed to operate as a money manager in Kenya, following false claims that SIB’s operations are in breach of the law.
CMA says that SIB received its Money Manager license in December 2018 and is authorized to choose and manage investments for its online forex trading clients. SIB is Kenya’s first Money Manager license holder according to the markets regulator. The investment firm also has an Investment Bank which has been in operation since 1995.
The Capital Markets regulator has stepped up its oversight role in the investments sector in recent years due to infiltration by fraudsters.
“In line with our investor protection mandate, we assure all stakeholders including investors that the SIB operations under the money manager license are in compliance. We also undertake regular monitoring and surveillance of all licensed entities…” said CMA Acting CEO Wyckliffe Shamiah.
Besides SIB’s Money Manager license, CMA has licensed four Non-dealing online foreign exchange brokers; EGM Securities, SCFM Limited, Pepperstone Markets Kenya, and Exinity Capital East Africa.
