The cabinet has approved principles for Securities and Exchange Amendment Bill. The bill is meant to protect investors into listed companies.
Said Mustvangwa yesterday as part of her briefing after cabinet:
The amendments are also aimed at ensuring fair and equitable treatment of holders of securities and that financial statements be in line with international accounting standards
(They are also aimed at) expanding the scope of regulation of capital markets to cover issuers of securities; eliminating regulatory arbitrage in the capital markets sector; introducing civil penalties for contravention of the Act to enhance the Securities and Exchange Commission SECZ) powers in markets; and providing for cooperation and sharing of information with both local and foreign regulators.
More: The Herald