Investment Services Provider

Our Firm advises investment services providers and their promoters across the full licensing and operating lifecycle under the Capital Markets and Securities Act and the rules made by the Capital Markets and Securities Authority (CMSA). We act for dealers, brokers, investment advisers, fund managers and custodians, as well as for companies raising capital through the market. Among other services, our Firm offers the following:

Licensing and Registration:
We advise on the appropriate licence category, prepare and file applications with the CMSA, and assist with the fit and proper documentation, minimum capital requirements and internal policies that must be in place before a licence is granted. We also handle licence renewals, variations and applications arising from a change of control.

Fund and Scheme Structuring:
We structure collective investment schemes, unit trusts and other pooled vehicles, prepare trust deeds and scheme documentation, and advise on the roles and liabilities of the manager, trustee and custodian. Our advice covers the tax and exchange control considerations that shape the choice of vehicle.

Securities Dealings and Transactions:
We advise on dealings in securities, public offers and listings on the Dar es Salaam Stock Exchange, private placements, and the disclosure obligations attaching to each. We prepare and review prospectuses, information memoranda, subscription and client agreements.

Compliance and Reporting:
Licensed providers carry continuing obligations that attract regulatory penalties when missed. We prepare and review compliance manuals, anti-money laundering and client due diligence procedures, and conflict of interest and client asset policies, and we advise on periodic returns and reporting to the CMSA.

Regulatory Engagement and Disputes:
We represent providers in engagement with the CMSA and other regulators, including responses to queries, inspections and enforcement action, and we act in investor complaints and disputes arising out of investment mandates.