{"id":59957,"date":"2022-05-29T17:21:45","date_gmt":"2022-05-29T15:21:45","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse"},"modified":"2022-05-29T19:32:41","modified_gmt":"2022-05-29T17:32:41","slug":"new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse","title":{"rendered":"New Rules Promulgated To Tighten Conditions For Trading Stocks On ZSE"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>Treasury has promulgated new regulations to operationalise the Government\u2019s directive on tighter conditions for the trading of stocks on the Zimbabwe Stock Exchange (ZSE).<\/p>\n

The government recently said it had identified loopholes in sub-systems of the ZSE believed to be part of activities fuelling parallel market activities.<\/p>\n

The Chronicle reports that deficiencies in the systems allowed clients to sell shares and transfer the proceeds to third parties for speculative trading in forex.<\/p>\n

Finance and Economic Development Minister, Professor Mthuli Ncube, issued Statutory Instrument (SI) 103A last week to operationalise policy measures to stymie speculative trading in the market, especially in the equities and currency markets. The SI reads:<\/p>\n

Where a holder of a securities dealer\u2019s licence receives funds in his or her trust account from a person (\u201cnon-client\u201d) who is not registered with him or her as a client, the holder shall (whether or not the identity of the non-client is known to him or her) immediately report that fact to\u2014the Financial Intelligence Unit (FIU) and the relevant exchange.<\/p>\n

In accordance with the instructions of the FIU\u2014 retain the funds pending forfeiture proceedings if the FIU informs the holder that there is a reasonable suspicion that the funds represent the proceeds of a serious offence as defined in the Money Laundering & Proceeds of Crime [Chapter 9:24]<\/p>\n

Or return the funds to the non-client if the FIU informs the holder that there is no such suspicion as is mentioned in sub-paragraph (ii).<\/p>\n

A holder of a securities dealer\u2019s licence shall not transfer funds from one trading account to another (whether or not such funds are routed through the holder\u2019s trust account, and whether or not the holder is instructed by any of his or her registered clients to do so), unless the transfer is to a trading account belonging to the same registered client<\/p>\n

The move is aimed at clipping rogue brokers that were allegedly involved in third-party funding of accounts.<\/p>\n

a). require that whenever money deposited in the trust account of a holder of a securities dealer\u2019s licence becomes payable to any registered client, the holder shall pay the money within the trading and payment times prescribed by the relevant authority to the registered client entitled to it and to not any other person.<\/p>\n

b). reviewed capital gains tax on shares held for a period not exceeding 270 days to 4 percent in line with the individual maximum marginal tax rate for Pay as You Earn (PAYE). It was previously pegged at 2 per cent and was seen as not deterrent enough to discourage speculative trading in shares.<\/p>\n

c). maintained capital gains tax at 2 per cent for long term investors beyond 270 days.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Treasury has promulgated new regulations to operationalise the Government\u2019s directive on tighter conditions for the trading of stocks on the Zimbabwe Stock Exchange (ZSE). The government recently said it had identified loopholes in sub-systems of the ZSE believed to be part of activities fuelling parallel market activities. The Chronicle reports that deficiencies […]<\/p>\n","protected":false},"author":84,"featured_media":59956,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,35,15],"tags":[1493,2189,19],"class_list":["post-59957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-zimbabwe-2","tag-zimbabwe"],"yoast_head":"\nNew Rules Promulgated To Tighten Conditions For Trading Stocks On ZSE - zimbabwe<\/title>\n<meta name=\"description\" content=\"Treasury has promulgated new regulations to operationalise the Government\u2019s directive on tighter conditions for the trad ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Rules Promulgated To Tighten Conditions For Trading Stocks On ZSE\" \/>\n<meta property=\"og:description\" content=\"Treasury has promulgated new regulations to operationalise the Government\u2019s directive on tighter conditions for the trad ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-29T15:21:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-29T17:32:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/05\/postQueueImg_15-6293ae2379346.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"New Rules Promulgated To Tighten Conditions For Trading Stocks On ZSE\",\"datePublished\":\"2022-05-29T15:21:45+00:00\",\"dateModified\":\"2022-05-29T17:32:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse\"},\"wordCount\":468,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/05\/postQueueImg_15-6293ae2379346.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zimbabwe\",\"Zimbabwe\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse\",\"name\":\"New Rules Promulgated To Tighten Conditions For Trading Stocks On ZSE - zimbabwe\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/05\/postQueueImg_15-6293ae2379346.jpg\",\"datePublished\":\"2022-05-29T15:21:45+00:00\",\"dateModified\":\"2022-05-29T17:32:41+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"Treasury has promulgated new regulations to operationalise the Government\u2019s directive on tighter conditions for the trad ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/05\/postQueueImg_15-6293ae2379346.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/05\/postQueueImg_15-6293ae2379346.jpg\",\"width\":1200,\"height\":600,\"caption\":\"New Rules Promulgated To Tighten Conditions For Trading Stocks On ZSE\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/zimbabwe\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"New Rules Promulgated To Tighten Conditions For Trading Stocks On ZSE\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#website\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/\",\"name\":\"zimbabwe\",\"description\":\"\u0623\u062e\u0628\u0627\u0631 \u064a\u0648\u0645\u064a\u0629 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/zimbabwe\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"New Rules Promulgated To Tighten Conditions For Trading Stocks On ZSE - zimbabwe","description":"Treasury has promulgated new regulations to operationalise the Government\u2019s directive on tighter conditions for the trad ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse","og_locale":"en_US","og_type":"article","og_title":"New Rules Promulgated To Tighten Conditions For Trading Stocks On ZSE","og_description":"Treasury has promulgated new regulations to operationalise the Government\u2019s directive on tighter conditions for the trad ...","og_url":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse","og_site_name":"zimbabwe","article_published_time":"2022-05-29T15:21:45+00:00","article_modified_time":"2022-05-29T17:32:41+00:00","og_image":[{"width":1200,"height":600,"url":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/05\/postQueueImg_15-6293ae2379346.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"New Rules Promulgated To Tighten Conditions For Trading Stocks On ZSE","datePublished":"2022-05-29T15:21:45+00:00","dateModified":"2022-05-29T17:32:41+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse"},"wordCount":468,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/05\/postQueueImg_15-6293ae2379346.jpg","keywords":["Africa Press","Africa Press-Zimbabwe","Zimbabwe"],"articleSection":["all news","Economy","homepage-english","twitter"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse","url":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse","name":"New Rules Promulgated To Tighten Conditions For Trading Stocks On ZSE - zimbabwe","isPartOf":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/05\/postQueueImg_15-6293ae2379346.jpg","datePublished":"2022-05-29T15:21:45+00:00","dateModified":"2022-05-29T17:32:41+00:00","author":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"Treasury has promulgated new regulations to operationalise the Government\u2019s directive on tighter conditions for the trad ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse#primaryimage","url":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/05\/postQueueImg_15-6293ae2379346.jpg","contentUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/05\/postQueueImg_15-6293ae2379346.jpg","width":1200,"height":600,"caption":"New Rules Promulgated To Tighten Conditions For Trading Stocks On ZSE"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/new-rules-promulgated-to-tighten-conditions-for-trading-stocks-on-zse#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/zimbabwe\/"},{"@type":"ListItem","position":2,"name":"New Rules Promulgated To Tighten Conditions For Trading Stocks On ZSE"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#website","url":"https:\/\/www.africa-press.net\/zimbabwe\/","name":"zimbabwe","description":"\u0623\u062e\u0628\u0627\u0631 \u064a\u0648\u0645\u064a\u0629 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/zimbabwe\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren"}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/posts\/59957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/comments?post=59957"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/posts\/59957\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/media\/59956"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/media?parent=59957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/categories?post=59957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/tags?post=59957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}