Regulatory Alerts2016-03-24
Decision No. CM/SJ/001/03/2016 on the Implementation of Monetary Sanctions Applicable to the UMOA Regional Financial Market
The UMOA Council of Ministers issued Decision No. CM/SJ/001/03/2016 to establish a comprehensive framework for imposing monetary sanctions on regional financial market actors for regulatory breaches. The decision classifies violations into four severity-based categories, defines specific monetary ranges for market central structures, commercial intermediaries, issuers, and other intermediaries, and sets quantitative multipliers for fourth-category breaches such as market manipulation and insider trading. Furthermore, it mandates recovery procedures through national public treasuries, establishes a probationary compliance period, and enters into force on 1 January 2017.
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