Regulatory Alerts2007-08-11
CMF General Decision No. 11 on Approval Procedures for Market Making Activities
The Financial Market Council (CMF) issued General Decision No. 11 to establish the approval procedures for stock exchange intermediary companies exercising market making activities. The decision mandates that qualifying firms maintain a minimum net equity of 3 million dinars and submit documented applications to the CMF, while designating specific staff members to oversee operations and reporting. It further requires that market makers record transactions in dedicated accounts, preserve information confidentiality, and adhere to practical exchange regulations published by the Tunis Securities Exchange.
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