Regulatory Alerts2012-06-21
General Decision of the Financial Markets Council No. 17 of June 21, 2012 regarding the Compliance and Internal Control Officer Function within Securities Portfolio Managers for Third Parties
The Financial Markets Council issued General Decision No. 17 of June 21, 2012 to establish the regulatory framework for Compliance and Internal Control Officers within Tunisian securities portfolio managers. The decision mandates that these officers operate independently with dedicated resources, possess specific national and professional qualifications, and execute comprehensive oversight duties including risk mapping, procedure validation, client interest protection, and IT security monitoring. Furthermore, it standardizes appointment procedures, semi-annual reporting obligations to the Council and management boards, and transition protocols for officer vacancies or resignations.
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