The Financial Market Council (CMF) has announced that its Board at its meeting on September 13, 2023 has decided to withdraw Compagnie Gestion et Finance’s (CGF) authorization to operate as a stockbroker.
This decision was taken following the company’s failure to comply with the conditions governing stock market intermediation set out in Act 117 of 1994, in particular articles 57 and 58.
The CMF is informing CGF customers that it has appointed BH Invest to manage the company’s day-to-day business in order to protect the interests of customers and market participants.
CGF was sanctioned by the Financial Market Council (CMF), as was its managing director, for fraudulent use of customer funds.
