Regulatory Alerts2025-03-27
COSOB Guidelines No. 03/2025 of March 27, 2025 on Targeted Sanctions
The Algerian Commission for the Organization and Supervision of Stock Exchange Operations (COSOB) issued Guidelines No. 03/2025 to enforce targeted financial sanctions, including asset freezes and transaction prohibitions, against individuals and entities listed by the UN Security Council and national authorities. The document mandates that regulated financial intermediaries implement immediate compliance measures, such as daily screening of unified and national sanction lists, internal controls, and strict reporting obligations to the specialized financial intelligence unit within 24 hours. It further outlines procedures for managing frozen assets, handling requests for delisting or exemption, and ensuring cooperation with relevant authorities to prevent terrorism financing and proliferation of weapons of mass destruction.