Who We Are
Establishment of the Capital Markets and Securities Authority
The Capital Markets and Securities Authority (CMSA) was established in 1995 by the Capital Markets and Securities Act, Chapter 79 R.E. 2002. The CMS Act is supplemented by 19 Regulations and Guidelines governing various aspects of capital markets. CMSA became operational as an autonomous body in the 1995/1996 Financial Year. The establishment of CMSA followed comprehensive financial sector reforms in the early 1990s that were aimed at developing capital markets in Tanzania. The capital markets are important because they provide the appropriate mechanisms for mobilizing long term savings and ensuring efficient allocation of resources to productive sectors in that way stimulate economic growth.
Functions of the CMSA
Functions, duties and powers of the CMSA are subject to the provisions of the Section 10 (1) of the CMS Act; the CMSA has the duty to:-
- Promote and develop efficient and sustainable capital markets and securities business in Tanzania while ensuring fair and equitable dealings;
- Formulate principles for the guidance of the industry, protection of investors' interests and integrity of the securities market against any abuses;
- Licensing and regulating stock exchanges, dealers, brokers and their representatives and investment advisors;
- Advising the Government on policies and all matters relating to the securities industry.
- Create the necessary environment for the orderly growth and development of the capital market;