Investor Protection Fund increase to $5,7m

Investor Protection Fund increase to $5,7m
Published: 13 August 2013
The Securities Commission of Zimbabwe (SECZ) Investor Protection Fund has increased to $5,7 million from $3 million due to restoration of confidence in the capital markets.

The funds which are aimed at protecting investors against malpractices reached the $5,7 million mark  by July, a move that has been attributed by SECZ to a rebound on investor confidence.

An industrialist Mr Patrick Gwasera says despite the liquidity challenges that are affecting local markets, the rise in the investors’ protection fund is due to reforms being implemented towards ensuring accountability in share dealings.

"We hope this will continue in the short to long term," said Gwasera.

The regulatory authorities have introduced measures such as the need for brokerage firms to have compliance officers who are responsible for separating depositors’ money from territorial money with a view of protecting depositors' interests.

Furthermore, experts say the automation of the Zimbabwe Stock Exchange is also expected to further boost investor protection regulations.
- zbc
Tags: SECZ,


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