Regulatory Alerts2024-08-01
Article 95: Amendments to the Securities Exchange Decree Regarding COSOB Cooperation
The Algerian government amended Decree No. 93-10 to empower the Securities Market Commission (COSOB) to establish cooperation agreements with foreign regulatory authorities for information exchange and joint investigations. These provisions waive professional secrecy for COSOB members when sharing data with equivalent foreign bodies, provided reciprocity and confidentiality guarantees are met. The COSOB is explicitly authorized to refuse assistance if requests threaten Algerian sovereignty, violate domestic law, involve double jeopardy, or originate from non-cooperative jurisdictions.
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