Financial Market Council Reminds Intermediaries of Anti-Money Laundering Obligations
The Financial Market Council (CMF) today reminded stock exchange intermediaries and securities portfolio management companies acting on behalf of third parties of their strict obligations under Organic Law No. 2015-26 of August 7, 2015, on combating terrorism and money laundering, as amended and supplemented by Organic Law No. 2019-9 of January 23, 2019.
The CMF emphasized the obligation to report any suspicious transaction or operation without delay to the Tunisian Financial Analysis Commission (CTAF) through the goAML application, under penalty of sanctions provided for by the legal provisions governing the financial market. This reporting obligation applies even after the transaction or operation has been carried out, if new information reveals that it falls into the category of suspicious transactions or operations.
In 2023, according to the CTAF's latest annual report, stock exchange intermediaries reported 9 suspicious transactions, compared to 4 the previous year. They ranked ahead of microfinance institutions and payment establishments. At the same time, stock exchange intermediaries provided responses to 22 information requests. The sector is increasingly contributing to the fight against money laundering practices.
Today's statement complements the one published a few days ago, which announced the modification of the CMF's organizational structure, creating a dedicated unit for preventing money laundering, terrorist financing, and weapons proliferation. It is clear that this falls within the framework of national efforts to combat these risks and ensure the integrity of the Tunisian financial market. If we want to prepare the ground for our market to have a regional impact, this is a necessary step.
