Instruction No. 68/CREPMF/2021 on the Standardization of Securities and Cash Accounts Opened with Approved Account Keepers on the UMOA Regional Financial Market

UNION MONETAIRE OUEST AFRICAINE crepmf CONSEIL REGIONAL DE L'EPARGNE PUBLIQUE ET DES MARCHES FINANCIERS

INSTRUCTION NO. 68/CREPMF/2021

ON THE STANDARDIZATION OF SECURITIES AND CASH ACCOUNTS OPENED WITH APPROVED ACCOUNT KEEPERS ON THE UMOA REGIONAL FINANCIAL MARKET

The Regional Council for Public Savings and Financial Markets,

WHEREAS the Convention of July 3, 1996 establishing the Regional Council for Public Savings and Financial Markets, particularly its Annex on the composition, organization, functioning, and powers of the Regional Council for Public Savings and Financial Markets;

WHEREAS General Regulation No. 001/97 of November 28, 1997 on the organization, functioning, and control of the UMOA regional financial market, as amended in Articles 37 and 136 by the UMOA Council of Ministers in its sessions of March 27, 1998 and September 5, 2005;

WHEREAS Decision No. 004 of April 29, 2021/CM/UMOA by the UMOA Council of Ministers appointing the President of the Regional Council for Public Savings and Financial Markets;

WHEREAS Directive No. 02/2015/CM/UEMOA of July 2, 2015 on the fight against money laundering and terrorist financing in the member states of the West African Economic and Monetary Union (UEMOA);

WHEREAS the deliberations of the Regional Council in its 52nd extraordinary session on December 21, 2021;

HAS ADOPTED THE FOLLOWING:

Avenue Joseph ANOMA 01 B. P. :1878 Abidjan 01/Côte d'Ivoire TEL.: (225) 2720215742/2720215179 Fax: 2720221657 presidence@crepmf.org www.crepmf.org 1

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Instruction No. 68/CREPMF/2021

CHAPTER I: DEFINITIONS AND GENERAL PROVISIONS

Article 1: Definitions

For the purposes of this Instruction, the following terms shall mean:

• Financial Asset: Any security or contract issued or admitted to the regional financial market, which is capable of generating income or a gain for its holder in exchange for a certain degree of risk;
• Custodian Account Bank (CAB): Any bank of the West African Monetary Union (UMOA) that has been granted the status of Custodian Account Bank, by approval of the Regional Council for Public Savings and Financial Markets, in accordance with the provisions of the General Regulation on the organization, functioning, and control of the UMOA regional financial market;
• Client: Any person or entity receiving a securities account keeping service;
• Account: Any securities account or cash account linked to the securities account, opened with an Account Keeper approved by the CREPMF;
• Cash Account: Any account opened in the books of an approved Account Keeping or Depository establishment on the UMOA regional financial market and linked to one or more securities accounts, upon which cash balances are deposited;
• Securities Account: Any account opened in the books of an approved Account Keeping or Depository establishment (Custodian Account Bank or Investment and Management Company) on the UMOA regional financial market, upon which securities, negotiable debt instruments, units or shares of Collective Investment Undertakings (CIU), and any financial instrument traded on a regulated market authorized by the Regional Council are deposited;
• Investment and Management Company (IMC): Any financial establishment that has been granted the status of Investment and Management Company, by approval of the Regional Council for Public Savings and Financial Markets, in accordance with the provisions of the General Regulation on the organization, functioning, and control of the UMOA regional financial market;
• Collective Investment Undertaking Management Company: Any financial establishment that has been granted the status of CIU Management Company, Common Securitization Fund (CSF) or any other form of Collective Investment Undertaking (CIU), by approval of the Regional Council for Public Savings and Financial Markets, in accordance with the regulatory provisions of the UMOA regional financial market;

Avenue Joseph ANOMA 01 B. P. :1878 Abidjan 01/Côte d'Ivoire TEL.: (225) 2720215742/2720215179 Fax: 2720221657 presidence@crepmf.org www.crepmf.org 2

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Instruction No. 68/CREPMF/2021

• Account Keeper: Any participant of the regional financial market authorized to record financial assets in accounts on behalf of third parties.

Article 2: Object

This Instruction aims to establish a unique nomenclature for securities and cash account numbers domiciled with authorized Account Keepers.

Article 3: Scope of Application

This Instruction applies to all actors of the regional financial market, particularly Account Keepers and similar entities approved by the CREPMF. These primarily include Investment and Management Companies (IMCs), Custodian Account Banks / Conservators (CABs), and Collective Investment Undertaking Management Companies.

Article 4: Opening of a Cash Account Linked to a Securities Account

Every securities account opened in the books of an Account Keeper must be accompanied by the opening of one or more exclusively dedicated cash accounts.

CHAPTER II: ACCOUNT NOMENCLATURE

Article 5: Account Characteristics

The securities and cash account numbers opened with Account Keepers on the regional financial market must include the characters defined by a circular letter of the Regional Council. These characters are grouped into seven (07) categories as follows:

• an Account Keeper code,
• a branch/counter code,
• an account type code,
• a client category code,
• a client type code,
• a serial number,
• a check digit/key.

Avenue Joseph ANOMA 01 B. P. :1878 Abidjan 01/Côte d'Ivoire TEL.: (225) 2720215742/2720215179 Fax: 2720221657 presidence@crepmf.org www.crepmf.org 3

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Instruction No. 68/CREPMF/2021

Article 6: Account Operations

The documents supporting account operations must mention the number of said account, established according to the nomenclature defined by the circular letter cited in Article 5 of this Instruction.

Stock exchange orders transmitted through the BRVM trading system must include the corresponding account numbers.

CHAPTER III: TRANSITIONAL AND FINAL PROVISIONS

Article 7: Transitional Provisions

Account Keepers approved before the effective date of this Instruction have a maximum period of one (01) year from January 1, 2022, to comply with its provisions.

Article 8: Publication and Effective Date

This Instruction, which repeals all prior contrary provisions, takes effect from the date of its signature. It shall be published wherever necessary.

Done in Abidjan, on December 21, 2021

For the Regional Council,

The President

Badanam PATOKI

Avenue Joseph ANOMA 01 B. P. :1878 Abidjan 01/Côte d'Ivoire TEL.: (225) 2720215742/2720215179 Fax: 2720221657 presidence@crepmf.org www.crepmf.org 4