Regulatory Alerts2024-09-13
Revision of Circular No. 02-2010 of February 15, 2010, Regarding the Content of the Information Note for Financial Operations on the UMOA Regional Financial Market – Terms of Reference
The Autorité des Marchés Financiers de l’Union Économique et Monétaire Ouest Africaine (AMF-UMOA) has issued these Terms of Reference to commission a consulting firm for the comprehensive revision of Circular No. 02-2010 governing financial operations on the regional market. The reform mandates an updated Information Note that accommodates diverse financial instruments, streamlines subscription and allocation procedures, incorporates international standards from the IOSCO, and establishes clear frameworks for emission programs and electronic subscription. By aligning primary and secondary market practices, the revised circular aims to accelerate transaction timelines, ensure equitable investor treatment, and strengthen the legal and regulatory architecture of the UMOA financial market.