Court orders Capital Markets Authority to pay UGX100m to Tolea Securities for illegally denying them a license Capital markets regulator also told to reverse their decision denying Tolea a license as the decision was based on a wrong set of rules. Court also orders them to re-review Tolea’s license application under proper laws.

Justice Lydia Mugambe of the High Court on Friday 28th February 2020 ordered financial markets regulator, Capital Market Authority (CMA) to pay UGX100 million to Tolea Securities Ltd for wrongfully declining to issue them a license to operate on the ALTX Stock Exchange in Uganda. The judge wants Tolea to be compensated for the “loss of business and reputation” suffered as a result of th