Regulatory Alerts2023-08-24
Instruction No. 18/99 on the Listing of Securities on the Regional Stock Market
The Regional Council for Public Savings and Financial Markets of the West African Monetary Union issues Instruction No. 18/99 to govern the listing of securities on the regional stock market, mandating a seven-day review period for submission files and requiring verification of compliance with exchange criteria, financial statements, and approved information notes. The Council retains veto power over listings through reasoned decisions and ensures that public offerings are properly closed with issuance reports and visa payments. Furthermore, the Instruction requires issuers to disclose all material information that could pose serious risks to investors prior to admission.
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