Under law 94-117, Tunisie Clearing is submitted to the control of the Market Authority «Financial Market Council» (CMF) whose mission is to organize and ensure the proper functioning of securities markets. Under this law, the Financial Market Council has a regulatory power encounter Tunisie Clearing, exercises a permanent control and is vested with a disciplinary power. In addition to this control, Tunisie Clearing governance is reinforced by the provisions of the Commercial Companies Code and its statutes which provide in particular:
- The adoption of a two-level governance structure which is composed of a deliberation entity and a management entity : being a limited company which shareholders are brokers and agreed banks, Tunisie Clearing is submitted to the administration and governance procedures stated in the Commercial Companies Code. To this matter, Tunisie Clearing has two assessment levels:
- A first level undertaken by the board of directors which prepares financial statements and an annual detailed management report at the end of each year. The report is submitted to the general meeting in forms of an annual activity report.
- A second level undertaken by the general meeting that has the power to control the management of the company, approve the annual accounts and take decisions in relation to results after acknowledgement of the board of directors and external auditors reports.
- The implementation of an external audit : In accordance with regulatory requirements and in order to ensure a better securitization of its business, Tunisie Clearing makes use of the services of an international external audit firm. The firm applies diligences stated by law with regards to accounts and operational audits. It is also envisaged that external auditors perform the necessary diligences to ensure the management of specific risks incurred from Tunisie Clearing missions and the compliance to legal and regulatory obligations.