Regulatory Alerts2026-05-11
Securities (Licensing, Fees and Levies) Rules
Issued by the Securities and Exchange Commission of Zambia, these rules establish the regulatory framework for licensing securities market participants and prescribe associated financial obligations. The regulations mandate standardized application procedures, detailed financial disclosures, and strict operational conditions for dealer, investment adviser, and securities exchange licenses, while prohibiting unauthorized business activities. Furthermore, the rules set mandatory fees for license grants and renewals, grant the Commission discretion to waive or refund charges in exceptional cases, and require licensees to pay a compensation fund levy calculated at five percent of net capital or one million kwacha, whichever is lower.
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