Regulatory Alerts2023-08-24
Instruction No. 060/CREPMF/2020 on Discretionary Portfolio Management under Mandate on the UMOA Regional Financial Market
The West African Monetary Union's Regional Council for Public Savings and Financial Markets (CREPMF) issued Instruction No. 060/2020 to regulate mandate-based portfolio management on the regional financial market. The directive establishes comprehensive definitions, client profiling requirements, and mandatory contractual formalization between managers and clients. It further imposes strict due diligence, conflict-of-interest management, transparency, and reporting obligations on both management companies and portfolio managers to ensure fiduciary duty and market integrity.
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