MEFMI Client Institutions Trained on Regulation of Securities Markets

Securities markets provide an alternative avenue for public and private enterprises to raise long term capital. Building and maintaining confidence in the markets as well as protecting investors’ interests is a primary concern for policymakers and regulators. However, in most MEFMI member countries, securities markets are small and illiquid resulting in them not playing a significant role in capital formation.

In order to develop securities markets and make them more attractive to investors and enterprises, there is need for policymakers and securities markets regulators to strengthen the legal, regulatory and institutional frameworks governing securities markets. Therefore, it is vital that policymakers and regulators fully appreciate the operations of securities exchanges, securities market intermediaries and market infrastructures. It is also important for regulators to keep pace with unfolding trends affecting securities markets.

In view of this, MEFMI conducted an e-learning course on regulation of securities markets from 1 July to 21 August 2020 in an effort to improve the knowledge and understanding of securities markets by regulators and policymakers. The course also highlighted the principles underlying effective regulation of securities markets. Participants learnt about the role securities markets play in contemporary economies, the different approaches to securities markets regulation, global best practices and international standards for regulation of securities markets and regulation of specific securities markets activities. The course also covered emerging topics in securities regulation such as anti-money laundering and combating the financing of terrorism and regulation of Fintech as well as traditional issues such as cross-border cooperation, risk-based supervision and self-regulation.

The course participants are expected to use the knowledge to strengthen the regulation of securities markets in their countries, which will spur their development and attractiveness thus enabling them to play a greater role in financing development and improve financial sector stability.

One hundred and eleven officials from central banks, securities markets regulatory agencies and ministries of finance of eleven (11) MEFMI member countries participated in the course. These countries are Botswana, Eswatini, Kenya, Lesotho, Malawi, Namibia, Rwanda, Tanzania, Uganda, Zambia and Zimbabwe.  The participants were mentored by Mr Noel Mahombera and Mr Patrick Mutimba of the MEFMI Secretariat.

Prepared by Noel Mahombera