Regulatory Alerts2022-05-26
Regulation of the Financial Market Council on Public Offers to Savings
The Financial Market Council issued this regulation to govern public offers to savings and securities admissions in Tunisia, mandating the preparation, visa application, and dissemination of prospectuses by issuers and stockbrokers. It establishes detailed requirements for prospectus content, including financial statements, Sharia compliance attestations for sukuk, and conditions for abridged or reference documents, while defining timelines for visa requests, firm commitments, and public dissemination. The regulation further outlines the roles of auditors, guarantors, rating agencies, and the Council’s authority to modify, refuse, or exempt prospectuses based on material facts and operational structures.
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