Regulatory Alerts1999-03-30
Instruction COSOB No. 99-02 of March 3, 1999, Regarding Registers to be Maintained by Stock Exchange Intermediaries
The COSOB issued Instruction No. 99-02 to mandate the specific nature, format, and retention periods of registers that stock exchange intermediaries must maintain for their activities. The regulation requires intermediaries to keep distinct records for transactions, client accounts, orders, dividends, complaints, and commissions, ensuring they are accessible for COSOB verification and preserved for at least five years. Additionally, intermediaries must establish individual client files containing account agreements and mandates, and all register models require prior approval from the COSOB.
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