Regulatory Alerts2016-06-24
Decision No. 014/24/06/2016 on Consolidated Supervision of Parent Credit Institutions and Financial Companies in the UMOA
The UMOA Council of Ministers issued Decision No. 014/24/06/2016 to establish a consolidated supervision framework for parent credit institutions and financial companies operating within the West African Monetary Union. The Decision mandates that these entities, along with intermediate holding companies and other relevant financial enterprises, comply with unified prudential rules on a consolidated or sub-consolidated basis to ensure systemic stability and effective risk monitoring. It grants the UMOA Banking Commission explicit authority to define consolidation scopes, require intermediate holding structures, apply corrective measures, and maintain an annual published list of supervised financial companies.
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