Regulatory Alerts2023-08-24
Instruction No. 47/2011/CREPMF (Revised) on the Registration Conditions for Private Placement Corporate Bonds on the UMOA Regional Financial Market
The Regional Council for Public Savings and Financial Markets (CREPMF) issues revised Instruction No. 47/2011 to establish the registration conditions, documentation requirements, and operational procedures for private placement corporate bonds on the UMOA Regional Financial Market. The regulation mandates that issuers obtain prior CREPMF registration, limit placements to a maximum of one hundred qualified investors, and strictly adhere to disclosure, credit enhancement, and transparency obligations throughout the bond's lifecycle. It further defines qualified investor criteria, outlines the lead placement agent's responsibilities, and specifies the proportional registration commissions and enforcement mechanisms for market compliance.
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