Regulatory Alerts2003-12-21
Instruction COSOB No. 03-03 of December 21, 2003, on the Model Account Opening Agreement Between Authorized Account-Keeping and Custody Service Providers and Their Clients
The Algerian Capital Market Authority (COSOB) issued Instruction No. 03-03 to establish a mandatory model agreement governing the relationship between authorized account-keeping and custody service providers and their clients. The document mandates specific contractual clauses regarding account opening, order transmission, provider and client obligations, fee structures, and dispute resolution mechanisms. It further defines operational requirements for account maintenance, information reporting, and procedures for account closure or termination upon the client's death.
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