Regulatory Alerts2023-09-12
CIRCULAR No. 01 / CREPMF / 2021 ON CAPITAL INCREASE OR DECREASE AND/OR MODIFICATION OF THE SHAREHOLDING STRUCTURE OF APPROVED PARTICIPANTS IN THE UMOA REGIONAL FINANCIAL MARKET
The Regional Council for Public Savings and Financial Markets (CREPMF) issued Circular No. 01/2021 to standardize the treatment of capital increases, decreases, and shareholding structure modifications by approved participants in the UMOA regional financial market. The Circular mandates that these entities submit draft proposals to CREPMF’s General Secretariat prior to execution, enabling the regulator to determine whether each operation requires only notification or formal prior authorization. By clarifying these procedural steps and aligning them with Articles 33 and 34 of the General Regulations, the Circular prevents post-facto regulatory interventions and ensures compliance with anti-money laundering and business continuity requirements.