Regulatory Alerts2025-05-16
Securities (Advertisements) Rules S.I. No 166 of 1993
The Zambian Securities Commission issued these Rules to require that only licensed persons issue securities advertisements in Zambia and to enforce detailed standards for their content, presentation, and risk disclosures. The regulations mandate precise requirements for statement prominence, clarity, fair comparisons, taxation and cancellation disclosures, accurate past performance reporting, and explicit risk warnings. The Commission may direct the modification or withdrawal of misleading advertisements, with non-compliant issuers facing summary conviction fines up to one hundred thousand penalty units.
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