Regulatory Alerts2025-04-01
Guidelines on Preventing Criminal Acquisition of Majority Shareholdings in Listed or Publicly Offered Companies
The Algerian Financial Markets Authority (COSOB) issued guidelines on June 20, 2024, requiring listed companies to implement rigorous due diligence processes to prevent criminals from acquiring majority stakes. These guidelines mandate comprehensive background checks on significant shareholders and executives, verification of fund origins, and strict adherence to anti-money laundering and counter-terrorism financing regulations. Companies must also establish internal compliance structures, report suspicious activities to authorities, and ensure transaction transparency to maintain market integrity.
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