Regulatory Alerts2025-03-27
COSOB Guidelines No. 02/2025 of March 27, 2025 on Due Diligence Measures Towards Clients
The Algerian Commission for the Organization and Supervision of Stock Market Operations (COSOB) issued Guidelines No. 02/2025 to mandate strict due diligence procedures for financial intermediaries to prevent money laundering, terrorist financing, and proliferation financing. The document requires regulated entities to implement comprehensive client identification, risk-based classification, and continuous monitoring systems, including enhanced measures for high-risk jurisdictions and simplified measures for low-risk clients. It further establishes legal obligations for record retention, internal surveillance, and reporting suspicious activities to ensure full compliance with international standards and national regulations.
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