Good morning,
On behalf of the Government of the Republic of Zambia (“Government”) and the Ministry of Finance and National Planning (“Ministry”), I am honoured to Grace the Securities and Exchange Commission’s Chairlady’s Breakfast dubbed – ‘Reshaping supervision for enhanced resilience’.
Today, we are part and parcel of this important event that marks a significant milestone in the regulation of our capital markets. We are indeed privileged to witness the Securities and Exchange Commission (SEC) migrate from a compliance-based supervision approach to a Risk Based Supervision (RBS) approach, a regulatory framework which I understand shall improve the SEC’s supervisory effectiveness. I am aware it has been a long and involving process – I take this opportunity, to also congratulate the SEC staff for reaching this point.