Regulatory Alerts2020-02-28
SEC Circular No. 1/2020 – 2020 Submission Calendar for Dealers, Investment Advisors and Issuers
The Securities and Exchange Commission of Zambia established a 2020 submission calendar detailing due dates for continuous regulatory filings, including capital adequacy returns, secondary bond trading reports, audited financial statements, and CIS monthly or quarterly returns for dealers, investment advisors, and issuers. Regulated entities must electronically submit these reports to the designated supervision email address by their respective monthly, quarterly, or annual deadlines. Non-compliance with these specified timelines subjects the filers to potential regulatory penalties.
SECURITIES AND EXCHANGE COMMISSION Protecting Investors in the Capital Markets
Directorate of Market Supervision and Development
CIRCULAR No: 1/2020/DMSD
TO : ALL DEALERS, INVESTMENT ADVISORS, ISSUERS
CC : CHIEF EXECUTIVE OFFICER : DIRECTOR ENFORCEMENT AND LEGAL SERVICES
SUBJECT : 2020 CALENDAR FOR SUBMISSIONS
DATE : 28th FEBRUARY 2020
Kindly be informed that the due dates for the submissions of the following continuous obligations for all Dealers, Investment Advisors and Issuers for the year 2020 are as follows;
A. DEALERS
| 1. Capital Adequacy Returns | Due Date |
|---|---|
| January | February 10, 2020 |
| February | March 10, 2020 |
| March | April 10, 2020 |
| April | May 11, 2020 |
| May | June 10, 2020 |
| June | July 10, 2020 |
| July | August 10, 2020 |
| August | September 10, 2020 |
| September | October 9, 2020 |
| October | November 10, 2020 |
| November | December 10, 2020 |
| December | January 11, 2021 |
| 2. Secondary Bond Trading Reports | Due Date |
|---|---|
| Daily Trade Report | Every Monday to Friday |
| Monthly Consolidated Report | 5th working day after month end |
3. Audited Financial Statements
The Audited Annual Financial Statements should be submitted three (3) calendar months after the end of the financial year of your institution. For example;
| Financial Year End | Due Date |
|---|---|
| 31st December 2019 | 31st March 2020 |
| 31st March 2020 | 30th June 2020 |
| 30th June 2020 | 30th September 2020 |
| 30th September 2020 | 31st December 2020 |
4. CIS Monthly and Quarterly Returns
| i.) Monthly Returns | Due Date |
|---|---|
| January | February 10, 2020 |
| February | March 10, 2020 |
| March | April 10, 2020 |
| April | May 11, 2020 |
| May | June 10, 2020 |
| June | July 10, 2020 |
| July | August 10, 2020 |
| August | September 10, 2020 |
| September | October 9, 2020 |
| October | November 10, 2020 |
| November | December 10, 2020 |
| December | January 11, 2021 |
| ii.) Quarterly Returns | Due Date |
|---|---|
| 1st Quarter | April 21, 2020 |
| 2nd Quarter | July 21, 2020 |
| 3rd Quarter | October 21, 2020 |
| 4th Quarter | January 21, 2021 |
B. INVESTMENT ADVISORS AND ISSUERS*
1. Audited Annual Financial Statements
The Audited Annual Financial Statements should be submitted three (3) calendar months after the end of the financial year of your institution. For example;
| Financial Year End | Due Date |
|---|---|
| 31st December 2019 | 31st March 2020 |
| 31st March 2020 | 30th June 2020 |
| 30th June 2020 | 30th September 2020 |
| 30th September 2020 | 31st December 2020 |
*NOTE: The Commission is developing annual returns that will be circulated soon.
Kindly be reminded that all returns should be submitted to supervision@seczambia.org.zm by the due date. Failure to do so may attract penalties.
For further queries please contact the Securities and Exchange Commission on +260 211 227012/ 222368/ 222369 or info@seczambia.org.zm. You may also contact the Market Supervision Manager assigned to your institution as relationship manager: Mr. Abraham Alutuli (aalutuli@seczambia.org.zm) or Mr. Nonde Sichilima (nsichilima@seczambia.org.zm)
Dated this day of 2020
(Signature)
MUTUMBOI MUNDIA (Ms) DIRECTOR MARKET SUPERVISION AND DEVELOPMENT