Regulatory Alerts2023-08-24
Instruction No. 30/2001 on Registration Conditions for Private Placement Bonds on the UMOA Regional Financial Market
The West African Monetary Union's Regional Council for Public Savings and Financial Markets issued Instruction No. 30/2001 to establish the registration framework for private placement bond issues on its regional financial market. The regulation requires qualifying issuers—specifically public limited companies with two years of operation and fully paid capital—to place bonds through no more than 100 qualified investors, appoint a designated management and intermediation company, and submit a detailed simplified information note covering issuer disclosures and transaction terms. Additionally, the Council imposes a tiered registration fee ranging from 2% to 3% based on issuance size and retains the authority to suspend transactions or conduct compliance inspections throughout the bond's lifecycle.