CMC — Comissão do Mercado de Capitais
Angola’s capital markets regulator, responsible for supervising BODIVA, regulating securities offerings, and protecting investors. Equivalent to the SEC (US), FCA (UK), or CMVM (Portugal).
Key Facts
- Full Name: Comissão do Mercado de Capitais
- Established: 2005 (Securities Code revised 2014, 2020)
- Jurisdiction: Securities markets, collective investment, market intermediaries
- Reports To: Ministry of Finance
- Key Laws: Lei dos Valores Mobiliários (Securities Code)
Functions
The CMC authorizes public offerings of securities, licenses market intermediaries (brokers and dealers), supervises BODIVA’s operations, investigates market abuse and insider trading, approves listing requirements, and publishes regulations governing disclosure, corporate governance, and investor protection.
Regulatory Framework
CMC regulations require listed companies to publish audited annual financial statements within 120 days of fiscal year-end, disclose material information within 24 hours, and comply with governance standards including independent board members and audit committees.