This follows from my lecture at the Univerity of Nairobi on securities traded at the Nairobi securities exchange.

1. SECURITIES REGULATION
Lyla Latif
School of Law, Commercial Law Department, Parklands Campus

2. CLASS 1

3. Introduction to Securities
Regulation
• Understanding securities, securities law, securities regulation,
commercial securities, the market and the capital market
• Understanding Negotiable Instruments (NI), the types of NI and
whether NI’s are different from securities
• The types of securities (conventional & Islamic) in the Kenyan
market
• The rationale for regulating securities
• The regulator (domestic, regional & international)
• The law relating to securities in Kenya

4. Securities & the Market
• Securities
• Securities law
• Securities regulation
• Commercial securities
• The market
• The capital market

5. Negotiable Instruments vs
Securities
• Negotiable Instruments (NI)
• Types of NI
• Difference between NI & Securities

6. Types of Securities in the
Kenyan Market
• Conventional
– Treasury bonds
– Corporate bonds
– Preference shares and debenture stocks,
– Short-term financial instruments, such as treasury bills and commercial
papers
– IPOs
• Islamic
– Sukuk

7. Rationale Behind Regulating
Securities
• To regulate the practice of investing
• To mitigate risks involved and protect
investors
• Growth of the stock market & economy

8. The Regulator
• Domestic
– Ministry of Finance
– The Capital Markets Authority
– The Nairobi Securities Exchange
– The Competition Authority
– The Central Bank
• Regional
– East African Member States Securities Regulatory Authorities
• International
– International Organisation of Securities Commissions (IOSCO)

9. The Law Relating to Securities in
Kenya
• The Capital Markets Act & its various Regulations
• The Central Depositories Act
• The Central Bank Act & the Banking Act
• The Companies Act
• The Income Tax Act

10. NEXT CLASS
THE HISTORICAL DEVELOPMENT OF
SECURITIES REGULATION