Securities and Exchange Commission of Zimbabwe warns investors against unlicensed capital market players and highlights penalties for operating without a licence

The Securities and Exchange Commission of Zimbabwe (SECzim) issued a public notice cautioning the investing public against buying or selling securities, or using capital market products and services, through unlicensed market players, and urging investors to confirm authorisation before participating in any investment scheme. The notice advises investors to verify whether an institution or individual is licensed by SECzim, request a valid SECzim-issued licence certificate before transacting, and use the SECzim website list of licensed players or seek clarification from the Commission if in doubt. It also reminds prospective operators, including collective investment schemes, to engage SECzim for guidance and warns that conducting capital market business without a SECzim licence breaches section 38(1) of the Securities and Exchange Act and can result in a fine not exceeding level six, imprisonment for up to one year, or both; it further flags that promoting, advertising, managing or operating a collective investment scheme without a licence breaches the relevant provision cited in the notice.