Circular No. 003-2005 on Regulatory Functions Subject to Professional Card Holding

Conseil Régional de l’Epargne Publique et des Marchés Financiers Union Monétaire Ouest Africaine

CIRCULAR NO. 003-2005
ON REGULATORY FUNCTIONS SUBJECT TO THE HOLDING OF A PROFESSIONAL CARD

The General Secretariat of the Regional Council for Public Savings and Financial Markets (CREPMF) notifies approved structures and market participants in the UMOA regional financial market that, in accordance with current regulations, the following functions are subject to holding professional cards:

1 EXECUTIVES / MANAGEMENT

• Chief Executive Officer (CEO) / Chairman & CEO
• Managing Director / Executive Administrator
• General Administrator
• Deputy Chief Executive Officer (Deputy CEO)
• Chief Executive Officer (CEO) / Managing Director
• Director

2 EMPLOYEES / STAFF

2.1 Investment and Intermediation Management Company (SGI):

• Internal Auditor/Controller,
• Trader / Clearing Officer,
• Accountant / Custodian,
• Advisor (client relations, issuer relations, or any person interacting with clients).

2.2 Wealth Management Company (SGP):

• Internal Auditor/Controller,
• Portfolio Manager,
• Advisor (client relations, issuer relations, or any person interacting with clients).

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Custodian/Account-Keeping Bank

• Internal Auditor/Controller,
• Accountant / Custodian,
• Advisor (client relations, issuer relations, or any person interacting with clients).

Collective Investment Scheme in Securities Management Company (OPCVM):

• Internal Auditor/Controller,
• Portfolio Manager,
• Advisor (client relations, issuer relations, or any person interacting with clients).

Securities Business Introducer, Broker/Agent, and Securities Investment Advisory Company (Legal Entities):

• Advisor (client relations, issuer relations, or any person interacting with clients).

3 Securities Business Introducer, Broker/Agent, and Securities Investment Advisory Individual (Natural Persons):

• License/Accreditation Holder.

Professional card applications must cover only the aforementioned functions.

Furthermore, a single individual may hold professional cards for multiple activities provided they are not incompatible.

Done in Abidjan, on August 1, 2005

The General Secretary
Edoh Kossi AMENOUNVE

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P.O. Box 1878, Abidjan 01, Côte d’Ivoire – Joseph ANOMA Avenue TEL.: (225) 20215742/20215768/20315620 Fax: 20332304 Email: sg@crepmf.org/ Website: http://www.crepmf.org