Combatting Insider Trading in Tanzania: The Adequacy of the Capital Markets and Securities Act of 1994 and the Companies Act of 2002
Sub-Saharan African countries have been continually searching for opportunities to transform their economic fortune. Among the central components for the envisioned transformation is the development of viable securities markets. These countries envision that the increasing demand for domestic and fo...
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Nomos Verlagsgesellschaft mbH & Co. KG
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ftdoajarticles:oai:doaj.org/article:2e6b57454c4b47f1a07462330bb1aa84 2023-05-15T13:56:59+02:00 Combatting Insider Trading in Tanzania: The Adequacy of the Capital Markets and Securities Act of 1994 and the Companies Act of 2002 Hanifa T. Massawe Mwajuma Kadilu 2015-01-01T00:00:00Z https://doi.org/10.5771/2363-6270_2014_1_52 https://doaj.org/article/2e6b57454c4b47f1a07462330bb1aa84 DE EN FR ger eng fre Nomos Verlagsgesellschaft mbH & Co. KG https://www.nomos-elibrary.de/10.5771/2363-6270_2014_1_52 https://doaj.org/toc/2363-6270 2363-6270 doi:10.5771/2363-6270_2014_1_52 https://doaj.org/article/2e6b57454c4b47f1a07462330bb1aa84 Recht in Afrika, Vol 17, Iss 1, Pp 52-63 (2015) Asia and Eurasia Africa Pacific Area and Antarctica KL-KWX article 2015 ftdoajarticles https://doi.org/10.5771/2363-6270_2014_1_52 2022-12-31T10:47:42Z Sub-Saharan African countries have been continually searching for opportunities to transform their economic fortune. Among the central components for the envisioned transformation is the development of viable securities markets. These countries envision that the increasing demand for domestic and foreign capital can be satisfied by robust securities markets in terms of operation and control of insider trading practices. However, this objective may not be attained where the securities business is fouled with insider trading practices without adequate legal regime to counter such practices. In this era where the Tanzanian capital market is exposed to international investment and the need to boost its economy, regulation of such market in terms of insider trading practices is of utmost importance. This article is aimed at analysing the adequacy of the Capital Markets and Securities Act of 1994 and its regulations in combating insider trading practices for companies listed in the Dar es Salaam Stock Exchange. From the discussion in this article, it is clear that the legal framework on insider trading in Tanzania is characterized by gaps, duplications, and ambiguities. At the end of the article it is concluded that, such legal regime is not adequate in combating insider trading practices in the stock market in Tanzania, thus amendment of the law is considered necessary. This work intends to shed light on insider trading and the importance of regulation for such offence. Article in Journal/Newspaper Antarc* Antarctica Directory of Open Access Journals: DOAJ Articles Pacific Recht in Afrika 1 1 52 63 |
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Directory of Open Access Journals: DOAJ Articles |
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ftdoajarticles |
language |
German English French |
topic |
Asia and Eurasia Africa Pacific Area and Antarctica KL-KWX |
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Asia and Eurasia Africa Pacific Area and Antarctica KL-KWX Hanifa T. Massawe Mwajuma Kadilu Combatting Insider Trading in Tanzania: The Adequacy of the Capital Markets and Securities Act of 1994 and the Companies Act of 2002 |
topic_facet |
Asia and Eurasia Africa Pacific Area and Antarctica KL-KWX |
description |
Sub-Saharan African countries have been continually searching for opportunities to transform their economic fortune. Among the central components for the envisioned transformation is the development of viable securities markets. These countries envision that the increasing demand for domestic and foreign capital can be satisfied by robust securities markets in terms of operation and control of insider trading practices. However, this objective may not be attained where the securities business is fouled with insider trading practices without adequate legal regime to counter such practices. In this era where the Tanzanian capital market is exposed to international investment and the need to boost its economy, regulation of such market in terms of insider trading practices is of utmost importance. This article is aimed at analysing the adequacy of the Capital Markets and Securities Act of 1994 and its regulations in combating insider trading practices for companies listed in the Dar es Salaam Stock Exchange. From the discussion in this article, it is clear that the legal framework on insider trading in Tanzania is characterized by gaps, duplications, and ambiguities. At the end of the article it is concluded that, such legal regime is not adequate in combating insider trading practices in the stock market in Tanzania, thus amendment of the law is considered necessary. This work intends to shed light on insider trading and the importance of regulation for such offence. |
format |
Article in Journal/Newspaper |
author |
Hanifa T. Massawe Mwajuma Kadilu |
author_facet |
Hanifa T. Massawe Mwajuma Kadilu |
author_sort |
Hanifa T. Massawe |
title |
Combatting Insider Trading in Tanzania: The Adequacy of the Capital Markets and Securities Act of 1994 and the Companies Act of 2002 |
title_short |
Combatting Insider Trading in Tanzania: The Adequacy of the Capital Markets and Securities Act of 1994 and the Companies Act of 2002 |
title_full |
Combatting Insider Trading in Tanzania: The Adequacy of the Capital Markets and Securities Act of 1994 and the Companies Act of 2002 |
title_fullStr |
Combatting Insider Trading in Tanzania: The Adequacy of the Capital Markets and Securities Act of 1994 and the Companies Act of 2002 |
title_full_unstemmed |
Combatting Insider Trading in Tanzania: The Adequacy of the Capital Markets and Securities Act of 1994 and the Companies Act of 2002 |
title_sort |
combatting insider trading in tanzania: the adequacy of the capital markets and securities act of 1994 and the companies act of 2002 |
publisher |
Nomos Verlagsgesellschaft mbH & Co. KG |
publishDate |
2015 |
url |
https://doi.org/10.5771/2363-6270_2014_1_52 https://doaj.org/article/2e6b57454c4b47f1a07462330bb1aa84 |
geographic |
Pacific |
geographic_facet |
Pacific |
genre |
Antarc* Antarctica |
genre_facet |
Antarc* Antarctica |
op_source |
Recht in Afrika, Vol 17, Iss 1, Pp 52-63 (2015) |
op_relation |
https://www.nomos-elibrary.de/10.5771/2363-6270_2014_1_52 https://doaj.org/toc/2363-6270 2363-6270 doi:10.5771/2363-6270_2014_1_52 https://doaj.org/article/2e6b57454c4b47f1a07462330bb1aa84 |
op_doi |
https://doi.org/10.5771/2363-6270_2014_1_52 |
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Recht in Afrika |
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1 |
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1 |
container_start_page |
52 |
op_container_end_page |
63 |
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1766264580673110016 |