Regulatory Alerts2020-03-04
CMA to Appeal High Court Ruling in Tolea Case
The Capital Markets Authority (CMA) has filed a notice of intention to appeal a High Court ruling that required it to re-evaluate Tolea Securities Limited's application to issue Exchange Traded Funds on Altx East Africa Limited. The regulator asserts that despite respecting the court's decision, there are strong grounds for appeal regarding the judicial review initiated by TSL. The CMA reaffirms its commitment to its statutory mandate of investor protection and the efficient development of Uganda's capital markets under relevant legislation.
Share