Regulatory Alerts2023-08-24
Instruction No. 25/99 on the Application of Instruction No. 13/98 and Repeal of Articles 1 and 2
The Regional Council for Public Savings and Financial Markets of the West African Monetary Union has issued Instruction No. 25/99 to apply previous regulations and repeal Articles 1 and 2 of Instruction No. 13/98. This directive mandates that the securities market supervision fee be calculated based on capitalization commissions paid by issuers and brokerage fees collected by Securities Management and Intermediation Companies (SGI). Furthermore, it requires SGI entities to remit these fees directly to the Regional Council effective upon signature and publication.
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