Regulatory Alerts2019-12-11
Capital Markets and Securities (Accounting and Financial Requirements) Amendment Regulations 2003
Issued by the Tanzanian Minister for Finance, these regulations amend the 1997 Capital Markets and Securities framework to mandate monthly reporting cycles and adopt Tanzania Financial Accounting Standards. They require brokers and dealers to submit quarterly financial reports, including cash flow statements, within thirty days of each quarter end. The amendments establish a tiered penalty system for late submissions, escalating from daily fines to license suspension or revocation based on the delay duration.
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