Regulatory Alerts2000-04-24
General Decision No. 5 of the CMF dated April 24, 2000 on Essential Information Required in Stockbroker Account Opening Forms
The College of the Financial Market Council mandates that stockbroker account opening forms must explicitly include client identity, contact details, account type, investment objectives, initial contact method, specimen signatures, and transfer or closure conditions. Stockbrokers are granted a six-month transitional period to update their client records and file powers of attorney for third-party agents in compliance with these new requirements. The decision, effective upon publication in the Official Bulletin, directly implements Article 50 of Decree No. 99-2478 to standardize account documentation across the financial market.
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