Instruction n° 006-05-2018 du 16 mai 2018 fixant les modalités d'application des sanctions pécuniaires prononcées par la Commission Bancaire de l'Union Monétaire Ouest Africaine à l'encontre des établissements de crédit de l'UMOA (Instruction on applying pecuniary sanctions imposed by the Commission Bancaire on credit institutions)

Direction 2018 status not recorded

Instruction n° 006-05-2018 du 16 mai 2018 fixant les modalités d'application des sanctions pécuniaires prononcées par la Commission Bancaire de l'Union Monétaire Ouest Africaine à l'encontre des établissements de crédit de l'UMOA (Instruction on applying pecuniary sanctions imposed by the Commission Bancaire on credit institutions)

Issued by Commission Bancaire de l'UMOA (UMOA Banking Commission)

Effective: 28 May 2018

Plain-English summary

Sets three categories of infraction (Art. 2) and fine ranges for credit institutions, with a cap of 300 million FCFA for banks and 90 million FCFA for financial institutions with banking status (Art. 3). Category 3 fines for banks run from 151 to 300 million FCFA. It enters into force on 28 May 2018 (Art. 6). The Commission Bancaire's press releases on fines cite it.

Who it applies to

Banking

Topics

Prudential & Capital AML / CFT / Sanctions Corporate Governance

Official source

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