Regional Council of Public Savings and Financial Markets (CREPMF) / Conseil Régional de l’Epargne Publique et des Marchés Financiers (CREPMF)

Any public offering procedure must be authorized by the Regional Council through the granting of a visa. Bond issues initiated by the States of the Union are not subject to the requirement of prior approval of the Regional Council. This body may also veto the issue and public offering of new financial products that may be traded on the stock exchange, as well as the creation of new financial markets.
Enabling powers

The Regional Council is only competent for:

empowering market management structures and approving business stakeholders,
certify the tariffs of commercial stakeholders, in particular the SGI and SGP,
issue business cards to people whose activity on the market requires it.

Regulation of the functioning of the market

The Regional Council regulates the functioning of the market, in particular by the following provisions:

the enactment of a regulation specific to the regional stock market, determining in particular the conditions of market access, in particular the rules of publicity and information of the public,
the interpretation, by general instructions, of the scope of its General Regulations,
the investigation of complaints of any interested person, relating to faults, omissions or maneuvers prejudicial to the rights of savers and the regular operation of the market,
the definition of rules for the application of individual measures, of disciplinary measures to punish conduct and acts which hinder the smooth functioning of the financial market and which are contrary to the interests of savers,
the conciliation and arbitration of disputes that may arise in connection with professional relations between financial intermediaries, or between financial intermediaries and market management structures.

Powers of Control

The Regional Council controls the activity of all stakeholders, including market management structures and authorized commercial stakeholders. It ensures that issuers of securities comply with the obligations they are subject to in connection with a public offering. In such a case, it may conduct inquiries of shareholders, parent companies and subsidiaries, of any legal or natural person having a direct or indirect interest relationship with the parties.
Powers of sanction

Any action, omission or maneuver that would be contrary to the general interest of the financial market and its proper functioning, and / or prejudicial to the rights of savers will be punished by pecuniary, administrative and disciplinary sanctions, as the case may be, without prejudice to judicial sanctions that may be imposed against the perpetrators on the basis of an action for damages brought by individuals individually as a result of these actions.
Resources

CREPMF's resources consist of commissions, fees, fees or any other revenue it receives for its activities, in particular when issuing visas and business cards, the approval of market structures and commissions on stock trading.

The annual budget of the Regional Council is submitted to the Council of Ministers of WAMU for approval.

The UEMOA Audit Office ensures the control of all the accounts of the Regional Council.

CREPMF may also receive any grant, donation or bequest from any legal or natural persons, states, governments or foreign bodies, provided that the use of these resources does not affect its autonomy and independence.