Judicial Administrator Appointed to Oversee Tunisian Stock Brokerage Firm
The judicial administrator, Bilel Errahmouni, has been appointed to take charge of the administrative and financial management of the Tunisian-Saudi Investment Company (TSI) for a period of three months. His appointment was decided by the Tunis Court of First Instance on May 15, 2025, and officially notified to the Financial Market Council (CMF) on May 22. This mission will be carried out under the direct supervision of a controlling judge.
This recourse to judicial administration follows serious governance and management breaches. The CMF describes the situation as "fragile and unstable," potentially threatening the rights and assets of clients. The judicial intervention aims to protect investors while ensuring the continuity of the company's activities.
In accordance with the provisions of Article 63 of Decree No. 2478 of November 1, 1999, governing stock brokers, any modification of the direction or internal organization must be validated by the CMF. Thus, the judicial administrator is now the sole legal representative of the company vis-à-vis third parties, including clients, banks, or authorities.
The CMF specifies that the administrator will also be the point of contact for complaints and requests related to the activity, under reinforced supervision. The objective is to restore confidence, preserve the interests of savers, and guarantee the integrity of the market.
In parallel, a disciplinary procedure remains ongoing, accompanied by judicial proceedings. The CMF emphasizes the rigor of its follow-up and reiterates its commitment to ensuring the stability of the Tunisian financial market.
