Financial Markets and Specialized Institutions

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Syllabus

1. 1 SEPT-DEC 2026 Lesson
2. 2 LIZE ZOOM CLASS LINK Lesson
3. 3 MAY-AUGUST 2026 Lesson
4. 4 JAN-APRIL 2026 Lesson
5. 5 MAY-AUG 2025 Lesson
6. 6 SEPT-DEC 2025 Lesson
7. 7 1. Market Organisation and Structure Lesson
8. 8 1.1 Functions of financial markets Topic
9. 9 1.2 Classification of financial assets and markets Topic
10. 10 1.3 Structure of financial markets Topic
11. 11 1.4 Players within the financial service industry: central banks, retail banks ,corporate banks: Investment banks; retirement schemes: insurance companies; Saccos, fund managers ;securities exchange, stockbrokers, online foreign exchange brokers, insurance brokers, investment advisors, custodians :REIT managers and trustees, pension administrators :industry associations ;professional bodies; crowdfunding: collective investment schemes(CIS):credit rating agencies Topic
12. 12 1.5 Major types and characteristics of securities traded in organised markets: Equities, government bonds and bills, corporate bonds, currencies, derivatives contract and commodities Topic
13. 13 1.6 Flow of funds and financial systems Topic
14. 14 1.7 Characteristics of a well- functioning system Topic
15. 15 1.8 Automation of security exchanges: Automated trading systems (ATS) Topic
16. 16 2. Raising capital in the securities market Lesson
17. 17 2.1 Types of shares Topic
18. 18 2.2 Private offers Topic
19. 19 2.3 Public offers: listing by introduction, offer by tender and rights issue Topic
20. 20 2.4 Prospectus/information memorandum Topic
21. 21 2.5 the International Organisation of Securities Commissions (IOSCO) principles for issuers Topic
22. 22 3. Central Depository System Lesson
23. 23 3.1 The Central Depository Settlement Corporation Topic
24. 24 3.2 Establishment of the central depository Topic
25. 25 3.3 Duties of a central depository Topic
26. 26 3.4 Central depository agents Topic
27. 27 3.5 Rules and regulations of the central depository Topic
28. 28 3.6 Remedies for breach of duties Topic
29. 29 3.7 Security measures in the system Topic
30. 30 3.8 Central Depository Guarantee Fund Topic
31. 31 3.9 Immobilisation and dematerialisation of securities Topic
32. 32 4. Securities Exchange Lesson
33. 33 4.1 Establishment, membership and roles of the security exchange Topic
34. 34 4.2 Listing and post listing requirements Topic
35. 35 4.3 Restriction of trade in eligible securities exchange Topic
36. 36 4.4 Self- listing of the exchange Topic
37. 37 4.5 Cross border listing Topic
38. 38 5. Securities transactions Lesson
39. 39 5.1 Book entry of transactions and prohibition Topic
40. 40 5.2 Records of depositors Topic
41. 41 5.3 Suspended securities Topic
42. 42 5.4 Suspension and delisting of securities Topic
43. 43 5.5 Charging or mortgaging of securities Topic
44. 44 5.6 Bonus and rights issues Topic
45. 45 5.7 Prohibition of dealings in book entry securities Topic
46. 46 5.8 Insider trading Topic
47. 47 5.9 The international Organisation of Securities Commissions (IOSCO) principles for enforcement of securities regulation Topic
48. 48 6. Financial markets regulation Lesson
49. 49 6.1 Historical development of the law and regulations governing financial markets Topic
50. 50 6.2 The need for regulation and authorisation of firms Topic
51. 51 6.3 Asymmetric information and financial regulation: government safety net, restrictions on asset holdings, capital and governance requirements Topic
52. 52 6.4 Role of government in the financial system: Capital Markets Authority (CMA), Central Bank of Kenya, Retirement Benefits Authority, Insurance Regulatory Authority, The Sacco Societies Regulatory Authority (SASRA), the Unclaimed Financial Assets Authority, Kenya Deposit Insurance Corporation (KDIC) and the Financial Reporting Centre Topic
53. 53 6.5 Regulation of financial market intermediaries: Stockbrokers, Stock dealers, investment banks, investment advisers, Fund managers, Credit rating agencies, Collective investments schemes, Custodians, The International Organisation of Securities Commissions (IOSCO) principles for credit rating agencies, collective investment schemes and market intermediaries, Central Depository and Settlement Corporation (CDSC) Topic
54. 54 6.6 Main aims and activities of financial services regulators Topic
55. 55 6.7 Anti- money laundering and prevention of terrorism financing Topic
56. 56 6.8 Functions and powers Topic
57. 57 6.9 Due diligence requirements Topic
58. 58 6.10 Corporate governance and conduct of business requirements Topic
59. 59 6.11 Financial supervision: chartering and examination, assessment of risk Topic
60. 60 6.12 Regulations in the international financial markets Topic
61. 61 6.13 The International Organisation of Securities Commissions (IOSCO) principles for self- regulation Topic
62. 62 6.14 Management, disclosure requirements, restrictions on competition Topic
63. 63 6.15 Financial liberalisation, stratificationand rationalisation Topic
64. 64 6.16 Financial inclusion and deepening Topic
65. 65 6.17 Bank runs and panics Topic
66. 66 6.18 The liquidity crisis Topic
67. 67 7. Legal ,Regulatory and Governance systems in Specialised Institutions Lesson
68. 68 7.1 Pension Schemes Topic
69. 69 7.2 Trusts and Foundations Topic
70. 70 7.3 Clubs Topic
71. 71 7.4 Religious organisations Topic
72. 72 7.5 Education institutions Topic
73. 73 7.6 Co-operative societies Topic
74. 74 7.7 Non governmental Organisations Topic
75. 75 8. Sample reading and reference material Lesson
76. 76 8.1 Codes of Governance issued by various regulatory bodies for the capital markets, financial institutions, savings and credit societies and similar institutions. Topic
77. 77 8.2 State Corporations Advisory Committee (2015), Mwongozo: The Code of Governance for State Corporations. Nairobi Topic
78. 78 8.3 Kasneb e-learning resources (link on the Kasneb website) Topic
79. 79 8.4 Kasneb approved study packs Topic