Capital Markets Authority (CMA) has learnt through media reports that there are persons who purportedly launched a commodities exchange to trade "precious metals" in Uganda. The reports have been seen in both traditional print and online media.
Section 2 (d) of the CMA Act, Cap. 84 gives CMA the power to grant approval to any person to operate as a commodities exchange.
We would like to state that the CMA has neither received an application, nor granted approval to any firm to operate a commodities exchange as provided for by the CMA Act.
Once again, we caution the public to ONLY deal with persons that are licensed or approved when receiving advice and investing in financial assets / securities which include shares, bonds,derivatives, commodities, unit trusts or collective investment schemes and,other financial instruments as provided for in the CMA Act. An updated list of licensed and approved persons is available on the CMA website.