Regulatory Alerts2020-12-29
Collective Investment Schemes (Fees) (Amendment) Rules, 2019
The Zimbabwean Minister of Finance and Economic Development, acting on the Securities and Exchange Commission’s proposal, has amended the 2017 Collective Investment Schemes (Fees) Rules to establish updated fee schedules for scheme registrations and licensing. The revised rules mandate ZWL$5,000 application and ZWL$3,000 annual fees for internal, external, and professional schemes, alongside ZWL100,000 application and ZWL30,000 annual licensing fees for trustees and managers. Additionally, the instrument imposes a ZWL$5,000 fee for miscellaneous scheme approvals and enforces a daily ZWL$500.00 penalty for late return submissions, capping at thirty days before potential scheme cancellation.
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