Regulatory Alerts2014-09-04
Market Guidance Note No. 1 of 2014: Licensing Requirements for Local and Foreign Capital Market Entities
The Securities and Exchange Commission of Zambia has issued an immediate directive requiring all local and foreign unlicensed entities acting as dealers, investment advisors, or representatives to obtain a Commission license before operating in the capital markets. This enforcement of Part IV of the Securities Act Cap. 354 mandates that any person or entity performing these specific securities functions must hold the corresponding authorization. Non-compliant market participants are therefore directed to regularize their licensing status under the prescribed legal provisions without delay.
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