Regulatory Alerts2020-10-20
Securities Act (Act 17/2004)
Zimbabwe issued this Act to establish a statutory Securities Commission empowered to license brokers, register and supervise securities exchanges and central depositories, and mandate trust accounts for licensed entities. The legislation consolidates market oversight by replacing the former Zimbabwe Stock Exchange framework, granting the Commission broad authority to inspect licensed entities and enforce civil and criminal penalties for insider trading and market manipulation. It further ensures investor protection and systemic risk reduction by mandating transparent interest registers, defining clear commissioner disqualifications, and establishing procedural safeguards for market participants.
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