Regulatory Alerts2024-12-18
Added · Updated
Law on the Modernization of Capital Markets
This law establishes the dematerialization of financial securities, requiring them to be held in accounts managed by authorized intermediaries or central depositories rather than physical certificates. It defines the legal transfer of ownership through electronic registration, protects account holders from seizure and insolvency risks of intermediaries, and regulates the pledge of securities accounts. The legislation also imposes strict obligations on sellers to ensure delivery capability and grants the Mauritania Financial Services Authority (MFSA) power to sanction violations and enforce settlement rules.
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