The ECMA holds various enforcement powers granted by Proclamation No. 1248/2021. The directorate is tasked with investigating potential violations of Capital Market Laws and Regulations by individuals or entities under ECMA’s supervision.
Its responsibilities include assessing the actions of license holders and, when necessary, conducting investigations into suspected compliance failures, misconduct, market abuse, or other breaches of the laws overseen by the authority. During investigations, the directorate may uncover evidence or suspicions of capital market crimes, such as market abuse, manipulation, or other unlawful activities involving licensed or unauthorized individuals. Such findings are reported to appropriate law enforcement bodies, including the Ministry of Justice and the Federal Police.
The Investigation and Enforcement Directorate reports its findings to ECMA’s decision-making body and provides recommendations for remedial measures and/or suitable enforcement actions. It is also responsible for implementing and monitoring the outcomes of enforcement decisions.
Address
Minaye Corporate Building 15th Floor
Flamingo Area, Kirkos
Addis Ababa, Ethiopia
This public notice is directed at publicly held companies established or raising capital through public subscription under the Commercial Code of Ethiopia. Specifically, it concerns companies with more than fifty (50) shareholders, regardless of the sector or industry in which they operate.
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