Regulatory Alerts2024-01-01
COSOB Regulation No. 24-02 of October 23, 2024, on Venture Capital Collective Investment Undertakings
The Algerian Stock Exchange Operations Organization and Surveillance Commission (COSOB) issued Regulation No. 24-02 to establish the legal framework for Venture Capital Collective Investment Undertakings (OPCR), specifically SICARs and FCPRs. The regulation defines key terms, mandates a minimum initial capital of 50 million dinars, and outlines strict procedures for approval, constitution, management, and dissolution. It further imposes rigorous obligations on depositaries and external evaluators to ensure asset conservation, compliance, and conflict of interest management.
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