Circular No. 001-2016 on Procedures for Referring Matters to the Regional Council by Central Structures on the UMOA Regional Financial Market

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

CIRCULAR No. 01-2016
ON THE PROCEDURES FOR REFERRING MATTERS TO THE REGIONAL COUNCIL BY CENTRAL STRUCTURES ON THE UMOA REGIONAL FINANCIAL MARKET

The General Secretariat of the Regional Council for Public Savings and Financial Markets (CREPMF) wishes to inform approved central structures on the Financial Market that, in application of current regulations, particularly Articles 20 to 22 of the annex to the Convention on the composition, organization, functioning and powers of the Regional Council for Public Savings and Financial Markets, and the provisions of the General Regulation on the organization, functioning and supervision of the UMOA Regional Financial Market, the referral to the Regional Council is carried out according to the following procedures:

• The Regional Council receives referrals for opinion or approval from central structures only after a favorable opinion has been issued by their Board of Directors.
• The Regional Council receives referrals from central structures, particularly in the following cases:
  • Application for authorization;
  • Approval of their general rules prior to implementation;
  • Conformity opinion prior to amendment of their general rules;
  • Approval of their fee schedules prior to implementation;
  • Approval of any project for the establishment of new financial markets;
  • Approval of any project for the trading of new financial products at the Regional Stock Exchange for Securities;
  • Whenever its opinion or approval is required for the validity of a decision to be taken by the central structures of the UMOA Regional Financial Market.

This Circular shall be published wherever necessary.
Done in Abidjan, on November 23, 2016

The General Secretary
Mory SOUMAHOI
Avenue Joseph ANOMA 01 B. P.: 1878 Abidjan 01/Côte d’Ivoire presidence@crepmf.org TEL.: (225) 20215742/20215179 Fax: 20221657 www.crepmf.org