Regulatory Alerts2023-11-07
Instruction COSOB No. 23-01 of November 7, 2023 Fixing the Elements Constituting the File Attached to the Application for Approval of the Participative Investment Advisor
The Algerian Commission for the Organization and Supervision of Stock Exchange Operations (COSOB) issued Instruction No. 23-01 to define the mandatory documentation required for applications for provisional and definitive approval of Participative Investment Advisors. The instruction specifies detailed submission requirements including corporate statutes, judicial records, professional certifications, and technical security proofs for the online platform. It mandates specific commitments from applicants regarding regulatory compliance, insurance coverage, internal controls, and the operational launch of their services within twelve months.
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