Regulatory Alerts2023-01-01
Central Bank (Capital Markets) (Amendment) Regulations, 2023
Issued by the Governor of the Central Bank of Lesotho in consultation with the finance minister, these regulations amend the 2014 Capital Markets framework to standardize licensing procedures and fee schedules for securities exchanges, brokers, dealers, and investment advisers. The amendments mandate comprehensive application documentation, specify prospectus content and approval timelines, require the appointment of principal officers based in Lesotho, and introduce enhanced anti-money laundering obligations. Additionally, the regulations clarify licence renewal processes, establish clear offences with monetary penalties up to M50,000 plus daily continuing fines, and define material contracts for public securities offerings.
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