Regulatory Alerts2022-10-19
Decree No. 2022-765 of October 19, 2022 Regulating the Activity of Crowdfunding in Investment in Securities
The Tunisian President, acting on the proposal of the Minister of Industry and multiple financial statutes, issued Decree No. 2022-765 to formally regulate the Crowdfunding activity in securities investment. The decree requires service companies to obtain prior approval from the Financial Market Council, maintain a minimum fully paid capital of 100,000 dinars, and appoint qualified executives with at least three years of relevant experience. It caps total project funding at one million dinars and individual contributor participation at ten thousand dinars, while mandating robust compliance, data protection, and risk management frameworks to safeguard investors.
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