Regulatory Alerts2019-08-22
Public Notice: APPROVAL TO OPERATE A COMMODITIES EXCHANGE
The Capital Markets Authority of Uganda issued this notice to clarify that it has neither received applications nor granted approval for any entity to operate a commodities exchange. The regulator refuted media reports claiming that persons had launched a platform to trade precious metals, emphasizing that such operations are illegal without explicit authorization. The CMA cautioned the public to only engage with licensed or approved persons for financial investments and directed them to the official website for a verified list of regulated entities.
Capital Markets Authority (CMA) has learnt through media reports that there are persons who purportedly launched a commodities exchange to trade “precious metals” in Uganda. The reports have been seen in both traditional print and online media.
Section 2 (d) of the CMA Act, Cap. 84 gives CMA the power to grant approval to any person to operate as a commodities exchange.
We would like to state that the CMA has neither received an application, nor granted approval to any firm to operate a commodities exchange as provided for by the CMA Act.
Once again, we caution the public to ONLY deal with persons that are licensed or approved when receiving advice and investing in financial assets / securities which include shares, bonds,derivatives, commodities, unit trusts or collective investment schemes and,other financial instruments as provided for in the CMA Act. An updated list of licensed and approved persons is available on the CMA website.
For more information, please contact,
The Chief Executive Officer
Capital Markets Authority
Tel: 0414 – 342 788 / 91
Email: ceo-office@cmauganda.co.ug
Website: www.cmauganda.co.ug