WARNING AGAINST THE USE OF UNLICENSED CREDIT RATING AGENCIES Why CRAs Must Be Regulated
Credit ratings influence decisions that are made by investors, issuers, experts and members of the public regarding investments, loans, Insurance contracts and national borrowing costs. Unregulated Credit Rating Agencies (“CRAs”) may give inaccurate or biased ratings, leading to market losses and investor harm. Regulation ensures independence, transparency, and accountability of the providers of credit rating […]
Operating an Investment Advisory Business Without a Licence-Bulaya Family Shop
Pursuant to Section 218(2)(a) of the Securities Act, Cap. 354 of the Laws of Zambia (‘Act’) the Securities and Exchange Commission (‘the Commission’) had on 16th April 2026 imposed a civil financial penalty on Mr. Baron Bulaya for operating a business as an investment advisor without a licence from the Commission.
Public Notice: Launch of the SupTech Online Application Portal
The Securities and Exchange Commission has implemented an Online Application Portal for licensing, registration of securities, authorization of funds, Self-Regulatory Organizations, and the regulatory sandbox with effect from 16 March 2026. From this date, all new licence applications shall be submitted exclusively through the Supervisory Technology (SupTech) Platform.
Circular-1-of-2026-Calendar-of-Submission
Pursuant to the Securities Act No.41 of 2016 (as amended by the Act No. 21 of 2022) (“the Act”), Capital Markets Operators (“CMOs”) are required to comply with the continuing obligations which include the requirement to make statutory submissions to the Securities and Exchange Commission (“the Commission”).
Public Notice – Board Appointment
The Securities and Exchange Commission (SEC) wishes to inform all Capital Market Operators and the general public that the SEC Board elected Mr. Paul Nkhoma as the Chairperson of the Commission Board, with effect from 18th December 2025.
STEERING ZAMBIA’S FIGHT AGAINST ILLICIT GAINS AS INTER‑AGENCY FRAMEWORK CONVENES ITS STEERING COMMITTEE’S QUARTERLY MEETING
Lusaka | October 14, 2025 – In a coordinated effort to enhance Zambia’s legal and institutional response to serious financial and economic crimes, the Steering Committee of the Inter-Agency Framework on Collaboration and Coordination in Asset Recovery held its quarterly meeting today at the Office of the Auditor General in Lusaka. The high-level session brought […]
PUBLIC ALERT – Vertex Pulse Edge fnl
The Securities and Exchange Commission (the “Commission”) has identified a purported investment scheme operating under the name “Vertex Pulse Edge”. Vertex Pulse operates and/or promotes the operation of its fraudulent business activities, through an online platform called the Vertex Pulse Edge Platform. The Commission has also noted that Vertex Pulse Edge’s scheme is being widely […]
PUBLIC ALERT – ponzi Core Various
The Securities and Exchange Commission (“the Commission”) has identified a purported investmentscheme operating under the name “Core Various.” The scheme is actively promoted on social mediaplatforms like Facebook and WhatsApp, claiming to offer investors returns of up to 10 times their initialinvestment after 100 days. It features an F50 earning category that heavily incentivizes recruitment,rewarding […]
PUBLIC ALERT – PMG
The Securities and Exchange Commission (“the Commission”) wishes to alert the public to a suspected Ponzi scheme operating under the name Performance Marketing Group (PMG). PMG claims to be an advertising agency affiliated with a UK-based company. PMG recruits individuals through a PMG mobile application, requiring them to pay a “security deposit” in exchange for […]
PUBLIC ALERT – Auteri Jewellers. final
The Securities and Exchange Commission (“the Commission”) has identified a purported investmentscheme operating under the name “Auteri Jewellery Company Ltd.” The scheme is actively promotedon social media platforms like Facebook, TikTok and YouTube, claiming to offer investors daily returns.The promoters of this scheme are enticing the public to invest money promising unusually high andfixed daily […]