The SEC is Zambia’s main capital markets regulator. Its main function is market supervision, and in this regard it is responsible for the following key functions:

There are a number of benefits of regulating and supervising the capital markets. These include the following:

• Enhance the credibility of the market and improves market confidence.
• Increase the competitiveness of the market internationally
• Protect the investing public and regulated entities
• Reduce systemic risk
• Has a stabilizing effect on the economy

The licensing process aims to ensure that only fit and proper organizations and individuals are allowed to operate in the capital market. The licensing, authorization or registration process establishes the regulatory relationship between the SEC and the capital market operator. To this end the Commission has minimum fit and proper requirements that capital markets operators must meet. The Commission has also prescribed the minimum technical competences, qualifications, training and experience that individuals working in capital markets must possess. More importantly, the Commission has put in place procedures to ensure dishonest are not allowed to participate in capital markets.

Once licensed, registered, authorised or recognized, a capital market operator will be supervised by the market supervision team under our supervisory framework described below. This involves identification of risks at individual firm level (Firm-specific risks) and risks affecting the entire capital markets (Systematic risks).

SEC's supervisory functions are outlined here.

SEC's website is at https://www.seczambia.org.zm/. All Zambian readers are encouraged to visit SEC's site and get to know their regulator.