Regulatory Alerts1992-12-22
COBAC Regulation R-92/01 on the Summoning and Hearing Procedure for Credit Institution Executives
The Central African Banking Commission issued Regulation R-92/01 to establish a formal summoning and hearing procedure for credit institution executives facing disciplinary sanctions. The regulation mandates that summons be delivered at least fifteen days prior to the hearing, accompanied by a statement of facts, and grants executives the right to professional representation, document access, and written submissions if unable to attend in person. Disciplinary sanctions resulting from this process must be reasoned, become enforceable upon notification, and require a one-month waiting period for withdrawal of authorization before taking effect.
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