Regulatory Alerts1994-11-14
Law No. 94-117 of November 14, 1994 on the Reorganization of the Financial Market
The Tunisian legislative authorities enacted Law No. 94-117 to reorganize the financial market by establishing comprehensive regulatory frameworks for public offerings, continuous information disclosure, and corporate governance. The legislation mandates that companies making a public offering prepare standardized prospectuses, submit quarterly activity indicators and interim financial statements to the Financial Market Council and Tunis Securities Exchange, and strictly declare threshold crossings and concerted actions. It further regulates treasury share purchases, dividend distribution timelines, capital calls on unpaid shares, and voting rights deprivation for non-compliant shareholders.
Share