Circular 1 of 2022 – Calendar for Submissions

Directorate of Market Supervision and Development CIRCULAR No: 1/2022/DMSD TO : ALL CAPITAL MARKET OPERATORS CC : CHIEF EXECUTIVE OFFICER CC : DIRECTOR ENFORCEMENT AND LEGAL SERVICES SUBJECT : 2022 CALENDAR FOR SUBMISSIONS DATE : 28th JANUARY 2022 The circular outlines the due dates for statutory submissions pursuant to the Securities Act No.41 of 2016 continuous obligations for Capital Markets Operators (Dealers, Investment Advisors, Registered Securities or Issuers and others) for the year 2022 as indicated per category.
Table 1 below summarises the continuing obligations as stipulated in the Act for each Capital
Market Operator. Kindly review the appendices which contain more details on the various due dates for the various statutory requirements that you are required to comply with as a Capital Market Operator.
Table 1: Continuing Obligations on Reporting Requirements for Capital Markets Operators
Type of Capital
Markets Operator
Statutory
Submissions
Frequency of submissions
Due Dates

1. Dealers (a) Audited
   financial
   Statements
   (applicable to all)
   Annually Refer to Appendix A
   (b) Capital adequacy return
   (applicable to all)
   Monthly Refer to Appendix B
   (c) Secondary bond trading returns
   (where applicable)
   Daily & Monthly Refer to Appendix C

(d) Collective
Investment
Scheme returns
(where applicable)
Monthly &
Quarterly
Refer to Appendix D
2. Investment Advisers (a) Audited
financial
Statements
(applicable to all)
Annually Refer to Appendix A
(b) Capital adequacy return
(applicable to all)
Monthly Refer to Appendix B
(c) ???
3. Securities Exchange (a) Annual Reports
(applicable to all)
Annually Refer to Appendix A
3. Issuers (a) Annual
Reports
(applicable to all)
Annually Refer to Appendix A
(b) Internal
Controls
Framework
Reports
Annually
3. Collective
Investment Schemes
(a) Annual
Reports
(applicable to all)
Annually Refer to Appendix A
Kindly be reminded that this is not an exhaustive list of continuing obligations. All returns should be submitted to info@seczambia.org.zm and copy in supervision@seczambia.org.zm by the due date. The Commission reserves the right to take regulatory action against licensees and issuers that do not comply with making the above submissions within the stipulated timelines. 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: Mr. Nonde Sichilima (nsichilima@seczambia.org.zm)

Dated this 28th day of January 2022
Mutumboi Mundia (Ms)
DIRECTOR MARKET SUPERVISION AND DEVELOPMENT

APPENDIX A

1. Annual Reports (For All Capital Markets Operators – Licensees, registered securities
   or issuers, Collective Investment Schemes and others)
   1.1 Annual Reports (For All Licensees)
   Section 41 of the Securities Act No.41 of 2014
   Below are the due dates for the submission of annual reports which include the audited financial statements. Financial Year End Due date 31st December 2021 31st March 2022 31st March 2022 30th June 2022 30th June 2022 30th September 2022 31st August 2022 30th November 2022 30th September 2022 31st December 2022 Furthermore, licencees are required to submit separate auditors report and management representation letters. See below reference rules for this requirement. Clause 18 of the Securities (Accounting and Financial Requirement) Rules Clause 16 of the Securities (Accounting and Financial Requirement) Rules Kindly note that all annual reports must be submitted in soft copy format info@seczambia.org.zm and copied to supervision@seczambia.org.zm
   1.2 Annual Reports and ICOFR Requirements (For all entities with registered
   securities or issuers)
   Below are the revised due dates for the submission of audited financial statements. Financial Year End Due date 31st December 2021 31st March 2022 31st March 2022 30th June 2022 30th June 2022 30th September 2022 31st August 2022 30th November 2022 30th September 2022 31st December 2022

1.2.1 Internal Control’s Framework (GAP Analysis Reports)
The Internal Control’s Framework which has the following requirements for year 3,4-5 that is for financial years ending on or after 31st December, 2021:
(i) Submission of Gap Analysis Report to the Commission; (ii) Self-Certification in accordance with Section 146 submitted to the Commission; (iii) Auditor’s Assurance Report on Internal Controls in accordance with
Section 149
Financial Year End Due date
31st December 2021 31st March 2022
31st March 2022 30th June 2022
30th June 2022 30th September 2022
31st August 2022 30th November 2022
30th September 2022 31st December 2022
*NOTE: The detailed guidelines can be accessed on the Commission’s website (www.seczambia.org.zm) or here.
1.2.2 Annual Report Requirement (For All Collective Investment Schemes)
Clause 49 (2) of the Securities (Collective Investment Scheme) Rules Below are the due dates for the submission of annual reports:
Financial Year End Due date
31st December 2021 30th April 2022
31st March 2022 31st July 2022
30th June 2022 31st October 2022
30th September 2022 1 st January 2023

APPENDIX B
2. CAPITAL ADEQUACY RETURNS (FOR ALL DEALERS)
2.1 Capital Adequacy Returns (For All Dealers)
Clause 28 of the Securities (Accounting and Financial Requirement) Rules Clause 29 of the Securities (Accounting and Financial Requirement) Rules Circular No. 1 of 2019 – Submission of Capital Adequacy Returns Reporting Month Due date January 2021 10 February 2022 February 2021 10 March 2022 March 2021 11 April 2022 April 2021 10 May 2022 May 2021 10 June 2022 June 2021 11 July 2022 July 2021 10 August 2022 August 2021 12 September 2022 September 2021 11 October 2022 October 2021 10 November 2022 November 2021 12 December 2022 December 2021 10 January 2023 You can access the template at https://www.seczambia.org.zm/regulations/circulars/ or here.

APPENDIX C
2.2 Secondary Bond Trading Reports (For Dealers engaging in bond trading)
Directive to Secondary Market Dealers on the payment of Statutory Fees and on secondary market bond trades and reporting requirements – Directive No. 1 of Reporting requirement Due date Daily Trade Report Next Business Day following the trade by 10:00hrs Monthly Consolidated Report 14th working day after month end *NOTE: The detailed guidelines can be accessed on the Commission’s website (www.seczambia.org.zm) or here.

APPENDIX D
2.3 CIS Monthly and Quarterly Returns
(i) Monthly Returns
Reporting Month Due date
January 2021 10 February 2022
February 2021 10 March 2022
March 2021 11 April 2022
April 2021 10 May 2022
May 2021 10 June 2022
June 2021 11 July 2022
July 2021 10 August 2022
August 2021 12 September 2022
September 2021 11 October 2022
October 2021 10 November 2022
November 2021 12 December 2022
December 2021 10 January 2023
(ii) Quarterly Returns
Reporting Quarter Quarter ending Due date st Quarter 31st March 2022 21st April, 2022 nd Quarter 30th June 2022 21st July, 2022 rd Quarter 30th September 2022 21st October, 2022 th Quarter 31st December 2022 21st January, 2023