Overview analysis of the regulation of insider trading in Zimbabwe during the corona virus pandemic

Howard Chitimira

Journal of Financial Crime, 2023, vol. 30, issue 6, 1499-1516

Abstract: Purpose - It is important to note that insider trading is currently outlawed under the Securities Act 17 of 2004 (Chapter 24: 25) as amended (Securities Act) in Zimbabwe. This Act enumerates some practices that may give rise to insider trading liability in the Zimbabwean financial markets. Nonetheless, numerous challenges, such as the lack of adequate financial resources, the lack of sufficient persons with the relevant skills and expertise on the part of the enforcement authorities, lack of political will, inadequacy of insider trading provisions, poor cooperation and collaboration between the relevant authorities and the ongoing coronavirus (Covid-19) pandemic have negatively impeded the effective regulation and combating of insider trading in Zimbabwe. To this end, the author explores the stated challenges and recommend measures that could be used by regulatory bodies and other relevant enforcement authorities to enhance the regulation and combating of insider trading in the Zimbabwean financial markets. This study aims to enhance the detection and combating of insider trading in Zimbabwe. Design/methodology/approach - A qualitative research methodology is used through the analysis of relevant legislation and case law. Findings - It is hoped that the findings and recommendations made in this study will be considered by the Zimbabwean policymakers. Research limitations/implications - The study does not use empirical research methodology. Practical implications - The findings and recommendations made in this study could enhance the combating of insider trading activities in Zimbabwe. Social implications - The study seeks to curb insider trading in the Zimbabwean financial markets and financial institutions in the wake of the covid-19 pandemic-related regulatory and enforcement challenges. Originality/value - The study provides original research on the regulation and combating of insider trading activities in Zimbabwe.

Keywords: Covid-19; Challenges; Offences; Insider trading; Financial markets (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:jfcpps:jfc-04-2023-0089

DOI: 10.1108/JFC-04-2023-0089

Access Statistics for this article

Journal of Financial Crime is currently edited by Dr Li Hong Xing and Prof Barry Rider

More articles in Journal of Financial Crime from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().