Regulatory Alerts2023-08-24
Instruction No. 17/99 on the Approval of Tariffs for Management and Intermediation Companies and Wealth Management Companies
The Regional Council for Public Savings and Financial Markets of the West African Monetary Union issued Instruction No. 17/99 to establish a mandatory approval process for the tariffs set by Management and Intermediation Companies (SGI) and Wealth Management Companies (SGP). The directive requires these entities to freely determine their client service fees, submit them for prior regulatory approval before implementation, and notify the Regional Council of any subsequent tariff modifications. Furthermore, approved tariffs must be publicly displayed and formally communicated to the Regional Securities Exchange and the Central Depository/Settlement Bank.
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