IN EXERCISE of the powers contained in Parts III, V and VI and section 221 of the Securities Act, 2016 the following Rules are hereby made:
In these Rules, unless the context otherwise requires – “adverse report” means a report which points to
any conviction of a person for a crime, excluding a traffic offence, which the Commission is satisfied would have a
detrimental effect on the capital markets or the public interest, if such person is allowed to carry on business as a capital markets operator or manage the affairs of a capital markets operator;