Tanzania – Review of Regulatory Framework for Capital Markets *new*

Tanzania has requested technical assistance in the review of its securities industry regulatory framework and key aspects of the operations of the securities markets.

First Initiative and IOCSO (International Organisation of Securities Commissions) are also assisting Tanzania by carrying out a full IOSCO assessment of Tanzania's capital markets and regulatory framework. The IOSCO assessment is expected to take place during January-June 2006. The Special Advisory Services Division(SASD) will take into account IOSCO reports and coordinate its inputs with the work of First Initiative and IOSCO in this project.  SASD will also review the legal framework for capital markets primarily the securities, collective investment schemes and companies legislation and, provide inputs on the specific issues identified during the IOSCO assessment.  The project will assist Tanzania's Capital Markets and Securities Authority in the preparation of required changes to the legal framework and new legislation. SASD team of an in house lawyer and external consultants will undertake the project.