Regulatory Alerts2023-09-12
Circulation No. 16/CREPMF/2022 on Rules Applicable to Collective Investment Undertakings Regarding Conflicts of Interest and Conduct Rules
The General Secretariat of the Regional Council for Public Savings and Financial Markets (CREPMF) issued Circulation No. 16/CREPMF/2022 to mandate authorized Collective Investment Undertakings and their Management Companies in the West African Monetary Union to implement robust conflict of interest policies, independence measures, and strict conduct rules. The regulation requires these entities to establish written policies, maintain registers of material conflicts, ensure independent execution and order handling, and guarantee transparent information disclosure to investors. Furthermore, it obligates management companies to exercise due diligence, execute trading decisions optimally, and safeguard client interests by restricting unfair remuneration practices and ensuring fair treatment of all unit holders and shareholders.