Regulatory Alerts1996-01-01
Ordinance No. 96-08 of January 10, 1996, on Collective Investment Schemes in Securities
Issued by the President of the Republic of Algeria, this ordinance establishes the legal framework for Collective Investment Schemes in Securities (O.P.C.V.M.), specifically defining the rules for Variable Capital Investment Companies (S.I.C.A.V) and Common Investment Funds (F.C.P). It mandates regulatory oversight by the Commission for the Organization and Supervision of Stock Exchange Operations (C.O.S.O.B) regarding the constitution, governance, asset management, and disclosure requirements of these entities. The text further outlines prudential standards, financial obligations, and specific criminal and disciplinary sanctions for non-compliance by managers, depositaries, and governing bodies.
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