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2020-12-29

Securities (Registration, Licensing and Corporate Governance) Amendment Rules 2019

The Minister of Finance and Economic Development, acting on the Securities and Exchange Commission, has approved amendments to the 2010 Securities Rules that update fee schedules for market participants. The revised Second Schedule establishes specific Zimbabwean dollar charges for initial and annual registrations, license applications, renewals, certificate replacements, and name or address notifications. These standardized fees apply to securities exchanges, central securities depositories, and a comprehensive range of licensed entities including dealers, trustees, custodians, and investment managers.

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Securities and Exchange Commission Zimbabwe

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S. I. 268 of 2019 1627 Statutory Instrument 267 of 2019. [CAP. 24:25 Securities (Registration, Licensing and Corporate Governance) (Amendment) Rules, 2019 (No. 1) IT is hereby notifi ed that the Minister of Finance and Economic Development, in terms of section 118(6) of the Securities and Exchange Act [Chapter 24:25], has approved the following rules made by the Securities and Exchange Commission:—

  1. These rules may be cited as the Securities (Registration, Licensing and Corporate Governance) (Amendment) Rules, 2019 (No. 1).
  2. The Securities (Registration, Licensing and Corporate Governance) Rules, 2010, published in Statutory Instrument 100 of 2010, are amended in the Second Schedule, Part I by the repeal of paragraphs 1 to 7 and the substitution of the following— “PART I FEES ZWL$
  3. Initial registration of a securities exchange . . . . . 100,000
  4. Annual registration fee for securities exchange . . . . 50,000
  5. Replacement of certifi cate of registration or licence . . . 500
  6. Notifi cation of change of name, address or prescribed particulars of holder of licence . . . . . . . . 500
  7. Application for— (a) securities ( dealing fi rm) . . . . . . . . 80,000 (b) securities (dealer) licence . . . . . . . . 20,000 (c) securities (authorised dealer) licence . . . . . 20,000 (d) securities (client liaison) licence . . . . . . 10,000 (e) securities (transfer) licence . . . . . . . 20,000 (f) securities (trustee) licence . . . . . . . 100,000 (g) securities (custody) licence . . . . . . . . 100,000 Securities (Registration, Licensing and Corporate Governance) (Amendment) Rules, 2019 (No. 1) 1628 (h) securities (investment advisers) licence . . . . 20,000 (i) securities (investment management) licence . . 100,000 (j) securities (multiple) licence . . . . . . . . 100,000
  8. Renewal of— (a) securities (dealing fi rm) licence . . . . . . . 30,000 (b) securities (dealer) licence . . . . . . . . 7,500 (c) securities (authorised dealer) licence . . . . . 5,000 (d) securities(client liaison) licence . . . . . . . 5,000 (e) securities (transfer) licence: . . . . . . . . 15,000 (f) securities (trustee) licence: . . . . . . . 30,000 (g) securities (custody) licence: . . . . . . . . 50,000 (h) securities (investment advisers) licence: . . . 10,000 (i) securities (investment management) licence: . . 30,000 (j) securities (multiple) licence: . . . . . . . 40,000
  9. Central securities depository— (a) approval of scheme for establishment of central securities depository . . . . . . . . 100,000 (b) the annual fee payable by central securities depository . . . . . . . . . . . . 50,000.”. Supplement to the Zimbabwean Government Gazette dated the 20th December, 2019. Printed by the Government Printer, Harare. ZWL$
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