Regulatory Alerts2016-02-24
Instruction COSOB No. 16-02 of February 24, 2016, on the Honesty Requirements for the Executive of a Commercial Stock Exchange Intermediary
Issued by the Algerian Capital Market Authority (COSOB), this instruction defines the documentation required to verify the honesty of executives at commercial stock exchange intermediary firms. It mandates that executives must not have been convicted of specific crimes, including fraud, corruption, money laundering, or bankruptcy, nor declared bankrupt or civilly liable for a bankrupt entity. Applicants must submit a third-category criminal record extract, a sworn declaration of no convictions, and any additional documents requested by the Commission for assessment.
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