Securities dealing firms and securities dealers are licensed in terms of section 38(1)(a) of the Securities Act [Chapter 24:25] as read with paragraph A of the Third Schedule to the Securities (Registration, Licensing and Corporate Governance) Rules, 2010.
The following are requirements for a Securities Dealing Firm's licence:
- Completed Application forms.
- Approval from a registered Exchange.
- Names of at least two registered securities dealers.
- Memorandum and articles of association.
- certificate of incorporation.
- a statement of the un-audited accounts for the period of accounting year ending not earlier than six months prior to the date of application and audited annual accounts for the preceding two years (if applicable).
- Liquid Capital in the form of a valid Investment deal note of a minimum of $150 000 or equivalent to the projected company’s operational costs over a minimum of thirteen weeks, whichever is higher.
- An application fee of $8000. Renewal fee is $3000
List of Securities Dealers (Stockbrokers) currently licensed by the Securities and Exchange Commission of Zimbabwe
Requirements for Securities Dealer's Licence
- Completed Application forms
- Birth certificates
- National Identity card
- 2 passport size colour photos
- Detailed CV
- Police clearance certificate
- Academic and professional certificates-these include “O” and “A” level certificates, diploma/degree certificates and transcripts. it is a requirement to have passed the following modules of the Registered Persons Examinations of the South African Institute of Financial Markets:
- Introduction to International Capital Markets
- International Equity Market
- Bond Market
- Derivatives Market
- Letter of undertaking from registered securities dealer attesting that applicant has the requisite experience.
- Approval from a registered Securities Exchange
- Proof of payment of fees of $2000. Renewal fee is $1500.
- Proof of networth of $10 000
