Regulatory Alerts2024-12-10
Added · Updated
Instruction No. 23 (Modification 2) on the Exercise of the Disciplinary Power of the Central Bank of Congo
Instruction No. 23 (Modification 2) establishes the administrative and pecuniary sanctions the Central Bank of Congo may impose on credit institutions, financial companies, and their statutory auditors for regulatory breaches. The document defines disciplinary measures including warnings, reprimands, operational bans, and license withdrawals, alongside a detailed matrix of financial penalties. These fines, denominated in Congolese Francs (CDF), range from 500 million to 2 billion CDF depending on the entity type and the specific violation, covering areas such as capital requirements, prudential ratios, anti-money laundering compliance, and corporate governance.
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