Apply In Person

1. To apply for the Fund Manager License, the applicant should make the application to the Capital Markets Authority. Please view the Capital Markets Authority contact details through this Capital Markets Authority Contact Details.
2. To obtain the application form for the Fund Manager License, the applicant should visit the Capital Markets Authority’s office to collect the application form at the reception or download the application form 1 through this License Application Form 1.
3. Read and legibly complete the application with correct information.
4. Then the applicant should gather and prepare all the required supporting documents as mentioned in the “Required Documents” section below. The applicant can also refer to the provided checklist.
5. Upon obtaining all the required supporting documents, the applicant should attach the documents to the application form in a single file.
6. Then the applicant should draw a company cheque of Ksh.2500 as the application fee for the license and attach the cheque to the application file.
7. Then the applicant should submit the fund manager license application to the Capital Markets Authority office.
8. Upon submission of the application, the Authority will review the application and communicate to the applicant regarding any areas of noncompliance with the license requirements which the applicant is required to accomplish.
9. If the authority determines that the application meets the required standards, the authority will conduct an inspection on the applicant's premises of operations to ensure that the applicant has adequate technical and administrative capacity to carry out the business for which the license is sought.
10. After a successful inspection of the applicant’s premises, the authority will conduct due diligence on the applicant’s company personnel to ensure that the directors and key personnel are fit and proper to hold their respective positions.
11. Then the Board of the Authority will deliberate on the application and findings of the inspection and the due diligence report and if the board determines that the application meets all the required standards for awarding the license, the board will approve it.
12. Once the application is approved, the authority will inform and the applicant will be required to settle the requisite license approval fee.
13. Then the Authority will inform the applicant when the License is available for collection.

Apply Online.

1. To apply for the Fund Manager License online, the applicant should make the application to the Capital Markets Authority through their online services portal via this CMA Portal.
2. On the portal, registered applicants should enter their username and password to log in to their account and if the applicant does not an account, the applicant should click on the “Register” hyperlink to go to the create profile page.
3. For an applicant who is current licensees, an approved Institutions, listed Companies, or Issuers of Securities, the applicant should follow these spet to create an account:
   • The applicant should click on the “Current Licensees, Approved Institutions, Listed Companies, or Issuers of Securities” radio button to be directed to the Company Details page.
   • Then the applicant should enter the certificate of incorporation number of the company and the Company’s registered email address and click on the “Search” button.
   • Then the system will auto search the applicant’s company details and if the company details are found in the database, the company name will be displayed and a form to key in the details of the person appointed as an administrator will be displayed.
   • Then the applicant should enter the administrator’s details and click on the “Save” button.
   • Then an activation link will be sent to the Administrator (Applicant) registered email address.
   • The applicant should then go to his/her email address, open the email from Capital Markets Authority and obtain his/her account’s username and password.
   • Once the applicant obtains the login credentials, the applicant should then go back to the Capital Markets Authority online portal and log in.
4. For an applicant who is a first-time applicant (who have not yet been licensed or registered with the Capital Markets Authority), the applicant should follow these steps to create an account:
   • The applicant should click on the “New (first time) applicants” radio button to be directed to the account creation page.
   • Then the applicant should enter all the required details about the Company and the Administrator and click on the “Save” button.
   • Then an activation link will be sent to the Administrator (Applicant) registered email address.
   • The applicant should then go to his/her email address, open the email from Capital Markets Authority and obtain his/her account’s username and password.
   • Once the applicant obtains the login credentials, the applicant should then go back to the Capital Markets Authority online portal and log in.
5. Once the applicant is logged in to the Capital Markets Authority online portal, the applicant should click on the “Licensing” drop-down menu in the Action Menu tab and select “New Application” to open the new applications page.
6. Then the applicant should select the license category and then click on the “Application Type” and select “Fund Manager License”.
7. Then the applicant should confirm all the details are correct and correct then click on the “Next button” button to go to the online application form.
8. The applicant should complete the online form correctly and upload all the requirements through the provided platform.
9. Upon completing the online form, the applicant should read the declaration section and click on the “Submit” button to send the application.
10. Upon submission of the application, the Authority will review the application and communicate to the applicant regarding any areas of noncompliance with the license requirements which the applicant is required to accomplish.
11. If the authority determines that the application meets the required standards, the authority will conduct an inspection on the applicant's premises of operations to ensure that the applicant has adequate technical and administrative capacity to carry out the business for which the license is sought.
12. After a successful inspection of the applicant’s premises, the authority will conduct due diligence on the applicant’s company personnel to ensure that the directors and key personnel are fit and proper to hold their respective positions.
13. Then the Board of the Authority will deliberate on the application and findings of the inspection and the due diligence report and if the board determines that the application meets all the required standards for awarding the license, the board will approve it.
14. Once the application is approved, the authority will inform and the applicant will be required to settle the requisite license approval fee.
15. Then the Authority will inform the applicant when the License is available for collection.

• Completed License Application Form 1 In duplicate.
• Certified copy of the Certificate of Incorporation.
• Certified copy of the Memorandum and Articles of Association.
• Accounts (6 months unaudited +2 years where relevant).
• Document detailing paid-up share capita up Ksh. 10 million.
• Document detailing Shareholders’ funds up Ksh. 10 million.
• Document detailing Liquid capital.
• Detailed business plan.
• Valid certified copies of the Police Clearance Certificate for directors and key personnel.
• Duly filled and executed Fit & Proper Forms for directors and key personnel.
• Comprehensive Curriculum Vitae for directors and key personnel.
• One letter of bank reference.
• Two letters of business reference.
• Document Detailing Risk Management framework in place.

Please refer to this checklist Application Checklist

Capital Markets Authority - Head Office
Embankment Plaza, 3rd Floor
Longonot Road, off Kilimanjaro Avenue, Upperhill
P.O Box 74800 - 00200
Nairobi
Kenya
Tel: +254 20 2264000/ 2264900 / 2221869
Cell: +254 722 207767
Email: corporate@cma.or.ke
Website link

• Incorporated companies who wish to obtain a fund manager license are eligible to apply.

• The application fee is Ksh.2500.

• The license is valid for one year and is eligible for renewals.

• License Application Form 1

Please attach sample completed documents that would help other people.

• The review and approval process takes 14 working days.

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is dkisplayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

• In the online application, the applicant/user that first creates the profile of the company automatically becomes the administrator. The applicant will be responsible for the creation of other users’ profiles and assigning rights to them.
• The Authority has the right to request any additional information and/ documents that may be required to adequately evaluate the application.
• The Authority may also convene meetings with the applicant's technical team to facilitate the progression of the application if needed.
• Any applications that remain outstanding for six months from the date of submission of the application to the Authority will be not be processed with authority.

• Name of company
• Registered office
• Date of incorporation
• Address
• Email
• Location, address, and telephone number of the principal office
• Location, address, and telephone number of branch offices
• Details of capital structure
• Directors
• Particulars of other directorship(s) of the directors and secretary.
• Particulars of shares held by directors or secretaries in other companies
• Business references
• Profile of the chief executive and key employees in the applicant company
• List the office facilities of the applicant
• State the exact nature of the activity to be carried on which obliges the applicant to apply for a license from the Capital Markets Authority.

• No person is allowed to carry on or hold himself out as carrying on business as a fund manager unless he is approved as such by the Capital Markets Authority.

• Capital Market ACT
• Online Application Guideline

Please explain what are other uses for obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

• CMA

More information which might help people.