Regulatory Alerts2025-06-25
COSOB Instruction No. 25-05 of June 25, 2025, Regarding Qualified Investors
The Commission for the Organization and Supervision of Stock Market Operations (COSOB) issued Instruction No. 25-05 to define the financial thresholds and procedures for classifying entities as qualified investors. The regulation establishes that companies with consolidated balances exceeding 200 million DA or annual turnover above 400 million DA, and individuals holding portfolios over 50 million DA, qualify for this status upon explicit request. It mandates that intermediaries verify these criteria, maintain qualified investor registers, and utilize standardized application forms containing risk warnings.
Share