IFREFI Member MeetingsBACK

"Role and position of the Regulatory Authority in improving issuer practices and restoring investor confidence"

During this technical seminar, four panels were held on the topic of building a strong regulatory framework. The first panel which was presented by CMA Financial Control Unit staff, Ali Fadoun & Yasmine Fakhoury, alongside Mr. Etienne Cunin, Deputy Director at the AMF, focused on issues concerning market entry – such as IPOs and the related due diligence on financial institutions, while detailing certain aspects of their operations such as the control procedures related to examining the contents of prospectus of financial securities and conducting due diligence on products, the risk factors associated with financial products offered to the public, and enhancing transparency in securities offerings.


In the second panel, Mr. Etienne Cunin (AMF) joined by Mr. Mehdi Zaabouti representing the “Conseil du Marche Financier Tunisia”, discussed issues and challenges faced by regulators in the effort to control financial transactions through the setup of clear and organized procedures for reporting of financial statements using existing accounting standards which would help instil a more clear and transparent and equal oversight operation by the regulators.


Delegates from the Commission des Marchés Financiers Cameroon and the Autorité Marocaine du Marché des Capitaux presented the final panel which revolved around the surveillance of issuers in order to avoid misconduct, and the use of available tools by the regulator such as enhancing corporate governance policies and applying sanctions when needed to ensure the smooth and effective operation of issuance of financial securities.