Regulatory Alerts2025-10-22
COSOB Guideline No. 05-2025 of October 22, 2025, on Politically Exposed Persons (PEPs)
The Commission for the Organization and Supervision of Stock Exchange Operations (COSOB) issued Guideline No. 05-2025 to establish a clear framework for the enhanced due diligence of Politically Exposed Persons (PEPs) within Algerian financial institutions. The directive mandates a risk-based approach requiring prior senior management approval for business relationships, verification of fund sources, and continuous enhanced monitoring of transactions. Non-compliance with these measures subjects regulated entities to penalties under the current Algerian legal framework.
Share