On 11th June 2026, the Securities and Exchange Commission (‘the Commission’) imposed civil financial penalties on CKS Lifestyle Global Solutions Limited (“CKS Lifestyle”) and its Chief Executive Officer, Dr. Cynthia Kunda Simwaka, pursuant to Section 218(2)(a) of the Securities Act, Cap. 354 of the Laws of Zambia (“Act”). The Commission also directed CKS Lifestyle and Dr. Simwaka to refund all persons who invested money with CKS Lifestyle. The Commission’s decision followed findings that CKS Lifestyle was dealing in securities without a licence and had established and operated a collective investment scheme (“CIS”) without authorisation by the Commission.