Regulatory Alerts2023-08-24
Instruction No. 46/2011 (Revised) on the Classification and Asset Allocation Rules for Collective Investment Schemes on the UMOA Regional Financial Market
The Regional Council for Public Savings and Financial Markets (CREPMF) of the West African Monetary Union (UMOA) issues Revised Instruction No. 46/2011 to establish the classification criteria and asset allocation rules for Collective Investment Schemes operating on the regional financial market. The regulation defines specific categories for equity, short-term bond, medium/long-term bond, contractual, and diversified funds, while mandating strict investment limits, diversification thresholds, and internal control reporting mechanisms for funds exceeding asset thresholds. It further stipulates transitional compliance periods, restricts liquidity holdings, and outlines enforcement measures for ratio breaches to ensure market stability and investor protection.