Regulatory Alerts2023-08-24
Instruction No. 13/98 Modifying and Repealing Instruction No. 10/98 on the Stock Exchange Control Fee
The West African Monetary Union's Regional Council for Public Savings and Financial Markets has issued Instruction No. 13/98 to modify and repeal the stock exchange control fee framework previously set by Instruction No. 10/98. The directive requires the Regional Stock Exchange for Securities (BRVM) to collect a 5% control fee from issuers and securities investment companies, calculated on capitalization commissions and transferred brokerage revenues. All prior conflicting provisions are formally abrogated, with the fee's taxable events explicitly defined as the billing of capitalization commissions and the SGI-to-BRVM brokerage transfers.
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