Instruction No. 17/99 on the Approval of Tariffs for Management and Intermediation Companies and Wealth Management Companies

WEST AFRICAN MONETARY UNION REGIONAL COUNCIL FOR PUBLIC SAVINGS AND FINANCIAL MARKETS

INSTRUCTION NO. 17/99 ON THE APPROVAL OF TARIFFS FOR MANAGEMENT AND INTERMEDIATION COMPANIES AND WEALTH MANAGEMENT COMPANIES Whereas the Convention of July 3, 1996 establishing the Regional Council for Public Savings and Financial Markets, hereinafter referred to as the Regional Council, Whereas Article 22 of the Annex to said Convention, Whereas the General Regulation on the Organization, Operation and Supervision of the Regional Financial Market of the UMOA adopted by Decision No. 001/97 of the Council of Ministers of the West African Monetary Union in its session on November 28, 1997, Whereas Articles 63 and 152 of said General Regulation, Whereas the deliberations of the Regional Council in its session on June 15, 1999, THE REGIONAL COUNCIL HAS ADOPTED: Article 1: Management and Intermediation Companies (SGI) and Wealth Management Companies (SGP) freely determine the tariffs applicable to the services they provide to their clients. Article 2: Prior to their implementation, the adopted tariffs must be submitted for approval by the Regional Council. Any subsequent modifications to approved tariffs require referral to the Regional Council for new approval. Article 3: The determined and approved tariffs must be displayed in a manner that allows public access. They must also be communicated to the Regional Stock Exchange of Securities and to the Central Depository/Settlement Bank. Article 4: This instruction shall be published wherever necessary. Issued in Dakar, on June 15, 1999 For the Regional Council The President L. NAKA