Regulatory Alerts1992-12-22
COBAC Regulation R-93/14 Amending Article 3 of the 1992 Credit Institution Hearing Procedure
The Central African Banking Commission (COBAC) amends Article 3 of its December 22, 1992 Regulation R-92/01 to modify the summoning and hearing procedure for credit institution executives. The revision replaces the discretionary right to be assisted by a professional association representative and any chosen defender with a specific requirement that summoned persons request assistance from a member of their Professional Association during the hearing. The amended provision retains the right to consult the relevant case file held by the General Secretariat and enters into force upon notification to authorized credit institutions, their Professional Associations, and the relevant Ministers.
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