Regulatory Alerts2020-10-12
Collective Investment Schemes (Professional Schemes) Regulations 1998
The Zimbabwean Minister of Finance issued these regulations to govern professional collective investment schemes by mandating formal registration and strict trust deed compliance. The framework requires promoters or licensed managers to submit Form CIS 5 applications, restrict membership to qualified persons between five and fifty participants, enforce a $50,000 minimum subscription, and conduct quarterly asset valuations. Furthermore, the regulations restrict promotional advertising to targeted materials with explicit liability disclaimers, mandate biannual financial returns to the Registrar, and grant existing schemes a one-year provisional registration period.
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