Regulatory Alerts2017-04-01
Added · Updated
Regulation on Establishment of Compensation Scheme in Rwanda
The Capital Market Authority of Rwanda issues Regulation No. 11 to establish a Compensation Scheme designed to indemnify clients suffering pecuniary losses due to fraud or defalcation by licensed dealers, investment advisers, or stock exchange employees. The Authority appoints a Compensation Committee responsible for assessing claims, conducting inquiries, and recommending compensation awards to the Board for final approval. The regulation defines the Scheme's funding sources, outlines the procedural requirements for filing claims, and establishes the legal framework for investigating defaults and disbursing funds to eligible claimants.