Regulatory Alerts2007-08-30
Statute of Stock Exchange Intermediaries
The Tunisian President, on the proposal of the Minister of Finance, issued Decree No. 99-2478 to establish the statutory framework governing stock exchange intermediaries, detailing their approval conditions, procedural requirements, and capital thresholds. The decree mandates that both natural persons and specialized joint-stock companies obtain principle and final approvals from the Financial Market Council, while strictly regulating executive conflicts of interest, capital participation limits, and professional card issuance. It further codifies core operational activities—including financial canvassing, listing sponsorship, and portfolio management—alongside the suspension or withdrawal mechanisms to safeguard client and market interests.