Regulatory Alerts2015-12-04
Regulation 017 on the Approval of Responsible Executives of Financial Institutions
The Governor of the Central Bank of the Comoros issued Regulation 017/2015 to establish the approval conditions for responsible executives of financial institutions under Law 13-003/AU. The regulation mandates that credit institutions and large decentralized financial institutions designate at least two responsible executives, with specific application procedures and timelines for approval. It further defines the roles of these executives, the revocability of their approval, and the obligation to notify the Central Bank of any changes in executive composition.
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