Regulatory Alerts2024-03-27
Instruction COSOB No. 24-01 of March 27, 2024 on Qualification Conditions for the CEO of a Stock Exchange Intermediary Company and the Head of the Stock Exchange Intermediary Structure in Banks and Financial Institutions
The Commission d’Organisation et de Surveillance des Opérations de Bourse (COSOB) issued Instruction No. 24-01 to establish the specific qualification requirements for the general manager of a Stock Exchange Intermediary (IOB) company and the head of the IOB structure within banks and financial institutions. These individuals must hold a higher education degree and pass a COSOB-certified exam on financial market professionals or possess a Commission-recognized diploma in securities trading. The instruction applies immediately upon signature, repeals the previous 2016 instruction, and grants a temporary exemption from the examination requirement for incumbents already in office.
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