Securities custodians are licensed in terms of section 38(1)(e) of the Securities Act [Chapter 24:25] as read with paragraph F of the Third Schedule to the Securities (Registration, Licensing and Corporate Governance) Rules, 2010.
Requirements for custodial licence
- Insurance cover
- Memorandum and Articles of Association
- Certificate of incorporation
- Auditor’s certificate on capital adequacy ($500 000 net asset value)
- Last audited set of financials.
- Proof of payment of fees ($2000). Renewal fee is $1000
- Personnel in the company should submit certified copies of the following:
- Birth certificates
- National Identity card
- 2 passport size colour photos
- Detailed CVs
- Police clearance certificate
- Academic and professional certificates-these include “O” and “A” level certificates, diploma/ degree certificates and transcripts
List of custodians currently licensed by the Securities and Exchange Commission of Zimbabwe
