Securities Laws & Legislation

The Securities Act (Chapter 24:25)

The Act is the legal framework for the Securities Commission of Zimbabwe, establishing it Section3. It was promulgated in 2004 and operationalised in 2008

The objectives , functions and powers of the Commission are set out in Section 4 and they are:

  1. Objectives
    • Provide high levels of investor protection
    • Reduce systemic risk
    • Promote market integrity and investor confidence
    • Prevent market manipulation, fraud and financial crime
    • Ensure transparency in capital and securities markets
    • Promote investor confidence
  2. Functions
    • regulate trading and dealing in securities
    • register, supervise and regulate securities exchanges
    • licence, supervise and regulate licensed persons, to ensure high standards of professionalism and integrity on their part.
    • encourage the development of free, fair and orderly capital and securities markets in Zimbabwe.
    • advise Government on all matters relating to securities.

Section 23 provides that the Funds of the Commission shall consist of levies, fees, allocations from Treasury and moneys that may vest or accrue to it in terms of the Act or otherwise.

Section 118 empowers the Commission to make rules providing for matters that are necessary for giving effect to the Commission’s objectives and the provisions of the Act.

The Act has provisions for the registration of securities exchanges under Part IV, the licensing of brokers and other persons under Part V, the maintaining of trust accounts by certain licensed persons under Part VI, management of registered securities exchanges under Part VIII and provisions for central securities depositories under Part IX.

The rest of the Act covers misuse of inside information, improper trading practices, supervision of institutions.

The following legislation is available for download:


Statutory Instruments

Download Statutory Instruments.