Regional Council for Public Savings and Financial Markets (CREPMF)
The Regional Council for Public Savings and Financial Markets (CREPMF) is an organ of the West African Monetary Union (WAMU). It was created on July 3, 1996 by decision of the Council of Ministers of the WAMU, within the framework of the establishment of the regional financial market which it supervises. It is entrusted with a general task of protecting savings invested in securities and all other investments giving rise to a public offering procedure in all the Member States of the Union.
Its headquarters are in Abidjan, Côte d'Ivoire.
The decision-making bodies
The Regional Council is headed by a twelve (12) member college and an Executive Committee of four (04) members.
The twelve-member college includes the following personalities:
a representative of each Member State appointed by the Council of Ministers of the West African Monetary Union (WAMU) on the proposal of the State concerned, because of its competence and experience in financial, accounting or legal matters, for a three-year term, renewable once,
the Governor of the Central Bank of West African States (BCEAO) or his representative,
the President of the West African Economic and Monetary Union Commission (UEMOA) or his representative,
a Judge specialized in financial matters, appointed by the WAMU Council of Ministers for a three-year term, renewable once, on the basis of a list proposed by the President of the UEMOA Court of Justice,
a reputable Chartered Accountant appointed by the WAMU Council of Ministers for a three-year term, renewable once, on the basis of a list proposed by the President of the WAEMU Court of Accounts.
The Regional Council meets in ordinary session.
The Executive Committee is composed of the President of the Regional Council and the Governor of the BCEAO or his representative as permanent members and two other members appointed from among the members of the Regional Council appointed by the Council of Ministers of WAMU for a period one year.
The Executive Committee acts within the limits of the delegation of powers conferred by the Regional Council. It reports to it of its decisions.
The General Secretariat
The Regional Council has a General Secretariat that oversees the decisions of the decision-making bodies.
It includes a corps of inspectors and an administrative service. It is headed by a Secretary General, appointed for a period of five years, renewable once.See more