Regulatory Alerts2025-05-16
Directives on Maintenance of Bank Accounts for Collective Investment Schemes 2016
The Securities and Exchange Commission of Zambia directs fund managers, trustees, and custodians to maintain dedicated Collections, Investment, and Payments bank accounts for each registered Collective Investment Scheme. These accounts must operate with strictly defined transaction types, including weekly transfers from Collections to Investment accounts and dedicated channels for administrative expenses and unit redemptions. The mandate applies to all sub-funds within umbrella structures, with interim waivers available upon demonstrating compelling grounds.
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