Regulatory Alerts2025-05-19
Added · Updated
Securities (Compensation Fund) (Amendment) Regulations, 2020
These Regulations amend the Securities (Compensation Fund) Regulations, 1993, by updating definitions to align with the Securities Act, including replacing references to the Commission with the Compensation Fund Committee and the Court with the Capital Markets Tribunal. The amendments revise financial reporting deadlines to require statements of financial position by March 31st for the preceding December and adjust compensation claim thresholds from one million kwacha to three hundred and thirty-three thousand three hundred and thirty-three fee units. Additionally, the changes clarify that insufficient compensation under section 182 allows claimants to seek further redress from the fund and correct minor textual errors regarding licensees and officers.