Kenya – CM PB

2024, Cross-border, Update

Country Manual Private Banking – Kenya BRP Update 2024

BRP has updated its Country Manual Private Banking for Kenya – (Def, RS, BT & RT)

Source of changesAnswers
Law / RegulationNo
New Position of the AuthoritiesNo
Evolution of Expert’s InterpretationNo

Regulatory Template, Regulatory Summary and Behaviour Template

Material changes

The Country Manual has been reviewed to ensure that the content of all documents remains accurate and up to date. We can confirm that there have been no major material changes or modifications of the relevant Kenyan cross-border legislation since the last update.

Non-material changes

The documents have been reformatted onto the latest template. Some content have been reworded, without introducing material changes, to provide more clarity.

Implications for business relations with third parties

With respect to the provision of documentation to the EAM (such as documentation on the Bank’s banking and investment services, investment research and financial analysis or recommendation lists), our country manual now distinguishes between the provision to the EAM for remittance to the end client on one hand and the provision to the EAM for the EAM’s own professional purposes on the other hand.

BT Short Comparison

BRP has created a comparison document allowing users to quickly identify the modifications made compared to the previous version of the PB Manual (BT Short Comparison). The BT Short Comparison can be found on BRP’s platform (mybrponline) in the Search tab by entering in the Document Field “CM PB BT SHORT COMP” and “KENYA” in the Target Country Field.

The BT Short Comparison should be read as follows:

The first column contains a short description of the activity in question. The second column contains the answers of the previous version of the Country Manual (online until the day of the alert). The third column contains the new answers of the most recent version of the Country Manual. Only the modified answers are displayed (in color). If the answers in the new version are unchanged compared to the previous version, they are shaded in grey.

For more information, please contact us:

Geneva, June 6th, 2024