Regulatory Alerts2022-04-29
Securities (Private Funds) Guidelines, 2022
The Securities and Exchange Commission of Zambia issued these guidelines to regulate Private Funds under the Securities Act, 2016. The framework mandates that funds obtain Commission authorization, appoint licensed Fund Managers with qualified investment teams, and raise capital exclusively from sophisticated investors through private placements. It establishes strict eligibility criteria, type-specific investment limits and leverage rules for equity, venture, social, hedge, and debt funds, alongside mandatory semi-annual disclosures and fiduciary duties to ensure transparent investor protection.
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