Regulatory Alerts1997-01-01
COSOB Regulation No. 97-04 of November 25, 1997, concerning Collective Investment Schemes in Securities (UCITS)
The Algerian Commission for the Organization and Supervision of Stock Exchange Operations (COSOB) issued Regulation No. 97-04 to define the constitution, operation, prudential rules, information, and control mechanisms for Collective Investment Schemes in Securities (UCITS). The regulation establishes specific approval procedures, mandatory statutory content, and operational requirements for both Variable Capital Investment Companies (SICAVs) and Common Investment Funds (FCPs). It further imposes prudential limits on asset concentration and borrowing, caps subscription and redemption commissions, and mandates strict disclosure and valuation standards to protect investors.
Share