Regulatory Alerts2023-08-24
Instruction No. 14/98 Amending and Repealing Instruction No. 11/98 on the Control Fee for Settlement/Delivery and Custody Transactions
The Regional Council for Public Savings and Financial Markets of the West African Monetary Union issues Instruction No. 14/98 to establish a 5% control fee levied on the Central Depository/Settlement Bank. This fee is calculated on gross revenues from settlement/delivery commissions and "Issuer" affiliation fees, with capital settlements, security deliveries, and related billing constituting the chargeable events. The Instruction simultaneously amends and repeals all prior contrary provisions, specifically superseding the earlier Instruction No. 11/98 effective from September 22, 1998.
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