Regulatory Alerts2023-12-29
Instruction No. 73/AMF-UMOA/2023 on Essential Functions and the Holding of Professional Cards within the Regional Stock Exchange for Securities (BRVM)
The West African Monetary Union Financial Markets Authority (AMF-UMOA) issued Instruction No. 73/2023 to mandate the holding of professional cards and define essential functions within the Regional Stock Exchange for Securities (BRVM). The regulation requires BRVM executives and key operational staff to obtain, renew, and maintain professional cards while ensuring functional independence, strict ethical compliance, and rigorous annual reporting to the Audit Committee. It establishes clear issuance procedures, withdrawal conditions, and a two-year transitional compliance window, backed by sanctions for vacancies or procedural breaches.
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