CIRCULAR No: 1/2023/DMSD: 2023 CALENDAR FOR SUBMISSIONS Directorate of Market Supervision and Development CIRCULAR No: 1/2023/DMSD TO : ALL CAPITAL MARKET OPERATORS CC : CHIEF EXECUTIVE OFFICER CC : DIRECTOR ENFORCEMENT AND LEGAL SERVICES SUBJECT : 2023 CALENDAR FOR SUBMISSIONS DATE : 30TH JANUARY 2023 The circular outlines dates on which statutory submissions fall due for the year ending 31st December
2023. Pursuant to the Securities Act No.41 of 2016 (“the Act”), submission dates for continuing
obligations for Capital Markets Operators (“CMOs”) falling due within the calendar year ending 31st December 2023 as indicated per category shall fall due on the dates indicated below. CMOs include amongst others, licensees (including Dealers, Investment Advisors, Securities Exchanges, Clearing, Credit Rating Agencies and Settlement Agencies) and Issuers (i.e., entities whose securities are listed or whose securities are registered with the Commission).
Appendix A below summarises the continuing obligations as stipulated in the Act for each CMO.
Details on the various due dates for each statutory requirement are also outlined in the attached appendices. Kindly note that all annual reports and audited financial statements should be submitted via email to info@seczambia.org.zm and copied to supervision@seczambia.org.zm. All returns should be submitted in soft copy to 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 on nsichilima@seczambia.org.zm or Mr. Benson K. Mwileli on bmwileli@seczambia.org.zm. Dated this: 30th day of January 2023 ACTING DIRECTOR MARKET SUPERVISION AND DEVELOPMENT

CIRCULAR No: 1/2023/DMSD: 2023 CALENDAR FOR SUBMISSIONS
APPENDIX A
CONTINUING OBLIGATIONS AND REPORTING REQUIREMENTS FOR CAPITAL MARKETS OPERATORS

Type of Capital

Markets
Operator
Statutory
Submissions
Frequency of submissions
Due Dates

1. Dealers (a) Audited financial
   Statements
   Annually Refer to Section 1.1 in
   Appendix B
   (b) Separate Auditors
   Report addressed to the Commission
   Annually Refer to Section 1.2 (i) in Appendix B (c) Confirmation of compliance Annually Refer to Appendix 1.2 (ii) in Appendix B (d) Capital adequacy return Monthly Refer to Appendix D (e) Secondary bond trading returns (where applicable) Daily & Monthly Refer to Appendix E (f) Collective Investment Schemes - Annual reports (Where applicable) Annually Refer to Section 1.4 of
   Appendix B
   (g) Collective
   Investment
   Schemes –
   Monthly returns
   (Where applicable)
   Monthly Refer to Section 1.1 of
   Appendix F
   (h) Collective
   Investment
   Schemes -
   Quarterly returns
   (Where applicable)
   Quarterly Refer to Section 1.2 of
   Appendix F
   (i) Collective
   Investment
   Schemes –
   Interim Reports
   Semi-annually
   (Each half year)
   Refer to 1.1 of
   Appendix C
2. Investment
   Advisers
   (a) Audited financial
   Statements
   Annually Refer to Appendix B
   (b) Separate Auditors
   Report addressed to the Commission
   Annually Refer to Appendix B
   (c) Confirmation of compliance
   Annually Refer to Appendix B

CIRCULAR No: 1/2023/DMSD: 2023 CALENDAR FOR SUBMISSIONS (d) Collective Investment Scheme annual reports (Where applicable) Annually Refer to Section 1.4 of
Appendix B
(e) Collective
Investment
Schemes -
Monthly returns
(Where applicable)
Monthly Refer to Section 1.1 of
Appendix F
(f) Collective
Investment
Schemes –
Quarterly returns
(Where applicable)
Quarterly Refer to Section 1.2 of
Appendix F
(g) Collective
Investment
Schemes –
Interim Reports
(Where applicable)
Semi-annually
(Each half year)
Refer to 1.1 of
Appendix C
3. Securities
Exchange
Annual Reports
(applicable to all)
Annually Refer to Appendix B
4. Clearing and
Settlement
Agency
Annual Reports
(applicable to all)
Annually Refer to Appendix B
5. Credit Rating
Agencies
Annual Reports
(applicable to all)
Annually Refer to Appendix B
6. Issuers
(i.e., Listed
Companies or companies whose securities are registered with the Commission) (a) Annual Reports (applicable to all) Annually Refer to Appendix B (b) Interim Reports Semi-annually Refer to 1.1 of
Appendix C
(c) Gap Analysis Report

• pursuant to the
  Securities(Internal
  Controls over financial reporting)
  Guidelines (“ICFR
  Guidelines”)
  Annually Refer to section 1.3 in
  Appendix B
  (d) Self-Certification - pursuant to Section 146 of the Act Annually Refer to section 1.3 in
  Appendix B

CIRCULAR No: 1/2023/DMSD: 2023 CALENDAR FOR SUBMISSIONS (e) Auditor's Assurance Report on Internal Controls in accordance with
Section 149
Annually Refer to section 1.3 in
Appendix B
(f) Management letter on Internal Controls required under the ICFR Guidelines Annually Refer to section 1.3 in
Appendix B
(g) Certifications by signing Officers to the Auditors and Board/ Audit Committee required under the ICFR Guidelines Annually Refer to section 1.3 in
Appendix B
7. Share transfer
agents
Annual Reports
(applicable to all)
Annually Refer to Appendix B

CIRCULAR No: 1/2023/DMSD: 2023 CALENDAR FOR SUBMISSIONS
APPENDIX B
Annual Reports for all Capital Markets Operators
1.1 Annual Reports (For All Capital Markets Operators)
Pursuant to Sections 47, 70, 95 and 146 of the Securities Act No.41 of 2016 Capital Markets Operators are required to submit annual reports within 90 days of the end of their financial year. Below are the due dates for the submission of annual reports:
Financial Year End Due date
31st December 2022 31st March 2023
28th February 2023 31st May 2023
31st March 2023 30th June 2023
30th June 2023 2nd October 2023
31st August 2023 30th November 2023
30th September 2023 2nd January 2024
1.2 Additional annual reporting requirements for Dealers and Investment Advisers
Furthermore, capital markets operators licensed as Dealers and Investment Advisers are required to submit:
(i) Separate auditors report, pursuant to Rule 18 of the Securities (Accounting and Financial Requirement) Rules. (ii) Confirmation of compliance, pursuant to Rule 16 of the Securities (Accounting and Financial Requirement) Rules.
1.3 Internal Controls over Financial Reporting (“ICOFR”) Reporting Requirements for all
Issuers (i.e. all listed companies or companies whose securities are registered with the Commission) For companies that are listed or whose securities are registered with the Commission, the following annual submissions are due under Internal Controls over Financial Reporting:
(i) Gap Analysis Report.
(ii) Self-Certification in accordance with Section 146 o f t h e A c t . (iii) Auditor’s Assurance Report on Internal Controls in accordance with Section 149 (iv) Management letter on Internal Control’s Framework (ICOFR) (v) Certifications by signing Officers to Auditors and Board/ Audit Committee *NOTE: The detailed guidelines can be accessed on the SEC website (www.seczambia.org.zm) or here.
1.4 Annual Report Requirement (For All authorized Collective Investment Schemes)
Pursuant to Clause 49 (2) of the Securities (Collective Investment Scheme) Rules, Fund Managers and Zambia Representatives of all authorized collective Investment Schemes shall submit the annual reports for their respective CISs within Four (4) months of the financial year end of the scheme. The following are the due dates for the submission of annual reports:
Financial Year End Due date
31st December 2022 2nd May 2023
31st May 2023 2nd October 2023
30th June 2023 31st October 2023
30st August 2023 2nd January 2024

CIRCULAR No: 1/2023/DMSD: 2023 CALENDAR FOR SUBMISSIONS
APPENDIX C
INTERIM FINANCIAL STATEMENTS/ REPORTS
1.1 Interim Reports by Issuers (i.e., Listed companies or those whose securities are
registered with the Commission)
Pursuant to Rule 17 of the Securities (Registration of Securities) Rules, Statutory Instrument 164 of 1993. Interim reports shall be published and distributed to holders within four months of the end of the period they cover. Below are the due dates for the submission of annual reports which include the audited financial statements. Interim period end date Due date 31st December 2022 30th April 2023 31st March 2023 31st July 2023 30th June 2023 31st October 2023 31st August 2023 2 nd January 2024 30th September 2023 31st January 2024
1.2 Interim Reports for Collective Investment Schemes
Pursuant to Clause 49 (2) of the Securities (Collective Investment Scheme) Rules, Fund Managers and Zambia Representatives of all authorized collective Investment Schemes shall prepare interim reports and shall publish them and distribute to unit holders within two months of the end of the period, they cover. The following are the due dates for the submission of half year end reports:
Half Year Ending Due date
30th November 2022 31st
January, 2023
31st December 2022 28th
February 2023
28th February 2023 30th
April 2023
30th June 2023 31st August 2023

CIRCULAR No: 1/2023/DMSD: 2023 CALENDAR FOR SUBMISSIONS
APPENDIX D
CAPITAL ADEQUACY RETURNS (FOR ALL DEALERS)
Pursuant to Rules 28 and 29 of the Securities (Accounting and Financial Requirement) Rules Rule and Circular No. 1 of 2019 – Submission of Capital Adequacy Returns. A copy of 2019 circular can be downloaded here. Reporting Month Due date January 2023 10 February 2023 February 2023 10 March 2023 March 2023 11 April 2023 April 2023 10 May 2023 May 2023 12 June 2023 June 2023 10 July 2023 July 2023 10 August 2023 August 2023 11 September 2023 September 2023 10 October 2023 October 2023 10 November 2023 November 2023 11 December 2023 December 2023 10 January 2024 You can access the template at https://www.seczambia.org.zm/regulations/circulars/ or here.

CIRCULAR No: 1/2023/DMSD: 2023 CALENDAR FOR SUBMISSIONS
APPENDIX E
SECONDARY BOND TRADING REPORTS (FOR DEALERS
ENGAGING IN BOND TRADING)
Pursuant to the Commission’s Directive to Secondary Market Dealers on the payment of Statutory Fees and on secondary market bond trades and reporting requirements – 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 Directives to Secondary Market Dealers can be accessed from the Commission’s website here.

APPENDIX F
COLLECTIVE INVESTMENT SCHEMES
MONTHLY & QUARTERLY RETURNS
1.1 Monthly Returns
The following is the schedule of dates for submission of monthly CIS returns:
Reporting Month Due date
January 2023 10 February 2023
February 2023 10 March 2023
March 2023 11 April 2023
April 2023 10 May 2023
May 2023 12 June 2023
June 2023 10 July 2023
July 2023 10 August 2023
August 2023 11 September 2023
September 2023 10 October 2023
October 2023 10 November 2023
November 2023 11 December 2023
December 2023 10 January 2024
1.2 CIS Quarterly Returns
The following is the schedule of dates for submission of quarterly CIS returns:
Reporting Quarter Quarter ending Due date
1 st Quarter 31st March 2023 21st April, 2023 2 nd Quarter 30th June 2023 21st July, 2023 3 rd Quarter 30th September 2023 23rd October, 2023 4 th Quarter 31st December 2023 22nd January, 2024