Regulatory Alerts2020-10-14
Added · Updated
Directive on Prudential and AML-CFT Returns and Penalties for Non-Compliance
Securities Market Intermediaries must submit quarterly returns by the 14th day following each quarter's end, annual audited financial statements by the 90th day following the financial year, and Collective Investment Scheme monthly returns by the 14th day following each month. Failure to submit Collective Investment Scheme returns incurs a penalty of USD$50.00 per day of contravention. Non-compliance with quarterly or annual submission requirements subjects institutions to investigation, a monetary penalty of RTGS $200.00 per day, public publication of the contravention, and other enforcement actions under relevant Zimbabwean statutes.
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