Regulatory Alerts2016-12-18
Instruction COSOB No. 16-04 of December 18, 2016 on the Functions and Qualification and Registration Conditions of the Compliance Officer
The Commission for the Organization and Supervision of Stock Exchange Operations (COSOB) issued Instruction No. 16-04 to define the roles, qualification standards, and registration procedures for compliance officers at Stock Exchange Intermediaries (IOBs). The instruction mandates that compliance officers ensure adherence to legal and regulatory obligations, conduct internal training, maintain compliance guides, and report irregularities to the Commission. It further specifies the hierarchical independence required for the role, the necessary professional experience and training for qualification, and the procedures for registration, removal, and annual reporting.
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