Regulatory Alerts2019-06-18
Added · Updated
Law No. 45/2018 Modifying the Capital Markets Business Regulation Law of Rwanda
The Parliament of Rwanda, sanctioned by President Paul Kagame, enacted Law No. 45/2018 to amend the existing Capital Market Regulation Act of 2011. The amendment expands the regulatory scope to explicitly cover brokers, dealers, sponsors, and investment banks while formally defining insiders, insider information, and a mandatory compensation scheme for investor losses. It establishes comprehensive administrative and criminal penalties, including substantial fines for non-compliance with Authority regulations, imprisonment of up to two years for unlicensed market activities, and strict liability for misleading statements or obstructed inspections.
Topics
market-abuse
securities
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