Regulatory Alerts2024-03-27
COSOB Guidelines No. 01/2025 of March 27, 2024 on Identification and Verification Measures for Beneficial Owners
The Algerian Commission for the Organization and Supervision of Stock Market Operations (COSOB) issued Guidelines No. 01/2025 to mandate strict identification and verification procedures for beneficial owners by regulated entities. The document establishes a 20% ownership threshold for identifying beneficial owners while requiring enhanced due diligence and alternative control assessments for complex structures, family businesses, and non-profit organizations. It further outlines risk-based approaches, suspicious activity indicators, and compliance obligations to prevent money laundering, terrorist financing, and the proliferation of weapons of mass destruction.
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