2025 Calendar for Submissions by Capital Market Operators

Directorate of Market Supervision and Development CIRCULAR No: 1/2025/DMSD TO : ALL CAPITAL MARKETS OPERATORS CC : CHIEF EXECUTIVE OFFICER CC : DIRECTOR – ENFORCEMENT AND LEGAL SERVICES SUBJECT : 2025 CALENDAR FOR SUBMISSIONS DATE : 15 TH JANUARY 2025 Pursuant to the Securities Act No.41 of 2016 (as amended by the Act No. 21 of 2022) (“the Act”), Capital Markets Operators (“CMOs”) are required to comply with the continuing obligations which include the requirement to make statutory submissions to the Securities and Exchange Commission (“the Commission”). This Circular outlines the submission dates falling due within the calendar year ending 31st December 2024 for each class of CMOs as follows;

1. Appendix A: submissions for all Capital Market Operators.
2. Appendix B: Annual Reports for all Capital Markets Operators.
3. Appendix C: Interim Financial Statements.
4. Appendix D: Capital Adequacy Returns.
5. Appendix E: Secondary Bond Trading Reports.
   Kindly note that all annual reports are to be submitted to the Commission via email at info@seczambia.org.zm and copied to supervision@seczambia.org.zm. Please note that the Commission reserves the right to take supervisory action against CMOs that do not comply with the submission requirement within the stipulated timelines. For further queries, please contact the Securities and Exchange Commission on +260 211 227012/ 222368/ 222369 or info@seczambia.org.zm. CMOs may also contact: Ms. Gertrude Buyungwe on gbuyungwe@seczambia.org.zm or Ms. Leah K. Simasiku on lsimasiku@seczambia.org.zm. Dated this: 15 th day of January 2025 NONDE SICHILIMA (MR.) DIRECTOR – MARKET SUPERVISION AND DEVELOPMENT

APPENDIX A
CONTINUOUS OBLIGATIONS AND REPORTING REQUIREMENTS FOR CAPITAL MARKET OPERATORS Type of Capital Markets Operator Statutory Submissions Frequency of submissions Due Dates 1 Dealers (a) Audited Financial Statements Annually Refer to Section 1.1 in
Appendix B
(b) Separate Auditors'
Report addressed to the Commission
Annually Refer to Section 1.2 (i) in Appendix B (c) Confirmation of Compliance Annually Refer to Appendix 1.2 (ii) in Appendix B (d) Capital Adequacy Return Monthly Refer to Appendix D (e) Secondary bond trading returns (where applicable) Daily & Monthly Refer to Appendix D (f) Collective Investment Scheme annual reports (where applicable) Annually Refer to Section 1.4 of
Appendix B
(g) Collective
Investment
Schemes Monthly returns (where applicable)
Monthly Refer to Section 1.1 of
Appendix E
(h) Collective
Investment
Schemes -
Quarterly returns
(where applicable)
Quarterly Refer to Section 1.2 of
Appendix F
(i) Collective
Investment-Interim
Schemes Quarterly returns (where applicable) Semi-annually (Each half year) Refer to Section 1.1 of
Appendix C
2. Investment Advisers (a) Audited Financial
Statements
Annually Refer to Appendix B
(b) Separate Auditors' Annually Refer to Appendix B

Report addressed to the Commission
(c) Confirmation of
Compliance
Annually Refer to Appendix B
(d) Investment
Advisor Return
Monthly Refer to Appendix B
3. Securities Exchange Audited Financial
Statements
Annually Refer to Appendix B
4. Credit Rating
Agencies
Audited Financial
Statements
Annually Refer to Section 1.1 in
Appendix B
5. Clearing and
Settlement Agencies
Audited Financial
Statements
Annually Refer to Section 1.1 in
Appendix B
6. Share Transfer
Agencies
Audited Financial
Statements
Annually Refer to Section 1.1 in
Appendix B
7. Issuers (a) Annual Reports
(applicable to all)
Annually Refer to Appendix B
(b) Interim Reports Semi-annually
(each half year)
Refer to 1.1 of
Appendix B
(c) Gap Analysis
Report - under the securities (Internal
Controls over financial reporting)
Guidelines
(“ICOFR
Guidelines”)
Annually Refer to section 1.3 in
Appendix B
(d) Self-certification in accordance with
Section 146 of the
Act
Annually Refer to section 1.3 in
Appendix B
(e) Auditor's Assurance
Report on Internal
Controls in accordance with
Section 149 of the
Act
Annually Refer to section 1.3 in
Appendix B

(f) Management letter on Internal Controls required under the ICOFR Guidelines Annually Refer to section 1.3 in
Appendix B
(g) Certifications by signing Officers to
Auditors and Board required under the
ICOFR Guidelines
Annually Refer to section 1.3 in
Appendix B
(h) Certification by signing Officers to
Audit Committee required under the
ICOFR Guidelines
Annually Refer to section 1.3 in
Appendix B

APPENDIX B
Annual Reports for all Capital Markets Operators
1.1 Annual Reports (For All Capital Markets Operators)
Pursuant to Sections 47, 70, 95, and 146 of the Securities Act No.41 of 2016, Capital Markets Operators are required to submit annual reports within 90 days of the end of their financial year. Below are the due dates for the submission of annual reports;
1.2 Additional Annual Reporting Requirements for Dealers and Investment advisors
Capital markets operators who are dealers and investment advisors are required to submit:
(i) Separate auditors report, pursuant to Rule 18 of the Securities (Accounting and Financial Requirement) Rules. (ii) Confirmation of compliance, pursuant to Rule 16 of the Securities (Accounting and Financial Requirement) Rules.
1.3 Additional Annual Reporting Requirements for Issuers of Securities
For CMOs whose securities are listed or whose securities are registered with the Commission, are required to submit the following additional annual reports under Internal Controls over Financial Reporting (“ICOFR”):
(i) Gap Analysis Report;
(ii) Self-Certification in accordance with Section 146 of the Act; (iii) Auditor’s Assurance Report on Internal Controls in accordance with Section 149 (iv) Management letter on Internal Control’s Framework (ICOFR) (v) Certifications by signing Officers to Auditors (vi) Certifications by signing Officers to the Board/ Audit Committee *NOTE: The detailed guidelines can be accessed on the Commission’s website (www.seczambia.org.zm) or here.
1.4 Annual Report Requirement (For All authorized Collective Investment Schemes)
Pursuant to Clause 49 (2) of the Securities (Collective Investment Scheme) Rules, Fund Managers and Zambia Representatives of all authorized Collective Investment Schemes (“CIS’s) shall submit the annual reports for their respective CISs within Four (4) months of the financial Financial Year End Submission date 31st December 2024 31 st March 2025 31st March 2025 1 st July 2025 30th June 2025 30th September 2025 th July 2025 3 rd October 2025 31st August 2025 1 st December 2025 30th September 2025 31st December 2025

year end of the scheme. The following are the due dates for the submission of Local Collective Investment Schemes annual reports:
Financial Year End Submission date
31st December 2024 30 th April 2025
31st March 2025 31st July 2025
30th June 2025 31 st October 2025
30th September 2025 30 th
January 2026
The following are the due dates for the submission of Foreign Collective Investment Schemes annual reports:
Financial Year End Submission date
31st December 2024 30th April 2025
31st May 2025 30th September 2025
30th June 2025 31st October 2025
31st August 2025 31st December 2025

APPENDIX C
INTERIM FINANCIAL STATEMENTS/ REPORTS
1.1 Interim Reports by Issuers (i.e. Listed companies or those whose securities are
registered with the Commission)
Pursuant to Rule 17 of the Securities (Registration of Securities) Rules, Statutory Instrument 164 of 1993. Interim reports shall be published and distributed to holders within four months of the end of the period they cover. The following are the due dates for the submission of interim reports:
Financial Year End Submission date
30th June 2025 31 st October 2025
31st August 2025 31 st December 2025
30th September 2025 31 st January 2026
1.2 Interim Reports for Collective Investment Schemes
Pursuant to Clause 49 (2) of the Securities (Collective Investment Scheme) Rules, Fund Managers and Zambia Representatives of all authorized collective Investment Schemes (“CISs”) shall prepare interim reports and shall publish them and distribute to unit holders within two months of the end of the period they cover. The following are the due dates for the submission of interim reports:
Financial Year End Submission date
31st December 2024 28th February 2025
31st March 2025 30 th May 2025
30th June 2025 29th August 2025
30th September 2025 1 st December 2025

APPENDIX D
CAPITAL ADEQUACY RETURNS (FOR ALL DEALERS)
Pursuant to Rules 28 and 29 of the Securities (Accounting and Financial Requirement) Rules Rule and Circular No. 1 of 2019 – Submission of Capital Adequacy Returns. A copy of 2019 circular can be downloaded at link below. You can access the template at https://www.seczambia.org.zm/regulations/circulars/ or here. Reporting Month Submission date January 2025 10 February 2025 February 2025 10 March 2025 March 2025 10 April 2025 April 2025 12 May 2025 May 2025 10 June 2025 June 2025 10 July 2025 July 2025 11 August 2025 August 2025 10 September 2025 September 2025 10 October 2025 October 2025 10 November 2025 November 2025 10 December 2025 December 2025 12 January 2026

APPENDIX E
SECONDARY BOND TRADING REPORTS (FOR DEALERS ENGAGING IN BOND TRADING) Pursuant to the Commission’s Directive to Secondary Market Dealers on the payment of Statutory Fees and on secondary market bond trades and reporting requirements Reporting requirement Submission date Daily Trade Report Next Business Day following the trade by 10:00hrs Monthly Consolidated Report 14th working day after month end *NOTE:
The Directives to Secondary Market Dealers can be accessed from the Commission’s website here. Reporting Month Submission date January 2025 20 February 2025 February 2025 20 March 2025 March 2025 18 April 2025 April 2025 23 May 2025 May 2025 19 June 2025 June 2025 18 July 2025 July 2025 19 August 2025 August 2025 18 September 2025 September 2025 20 October 2025 October 2025 20 November 2025 November 2025 18 December 2025 December 2025 20 January 2026

APPENDIX F
COLLECTIVE INVESTMENT SCHEMES
MONTHLY & QUARTERLY RETURNS
1.1 Monthly Returns
The following is the schedule of dates for submission of monthly Collective Investment Schemes returns:
Reporting Month Submission date
January 2025 10 February 2025
February 2025 10 March 2025
March 2025 10 April 2025
April 2025 12 May 2025
May 2025 10 June 2025
June 2025 10 July 2025
July 2025 11 August 2025
August 2025 10 September 2025
September 2025 10 October 2025
October 2025 10 November 2025
November 2025 10 December 2025
December 2025 12 January 2026
1.2 Quarterly Returns
The following is the schedule of dates for submission of quarterly Collective Investment Schemes quarterly returns:
Reporting Quarter Quarter ending Submission date st Quarter 31st March 2025 21st April, 2025 nd Quarter 30th June 2025 21st July, 2025 rd Quarter 30th September 2025 21 st October, 2025 th Quarter 31st December 2025 21 st January, 2026