Regulatory Alerts2010-01-01
Decision of the Board of Directors of the Authority No. (68) of 2010
The General Authority for Financial Supervision issued Decision No. 68 of 2010 to establish licensing guidelines and operational requirements for brokerage company branches and online trading activities on the Egyptian Exchange. The regulation classifies branches into Category One and Two execution branches and marketing branches, mandating specific capital increases, internal control systems, qualified personnel, and strict prohibitions on cash handling and unauthorized agent marketing. It further requires online trading firms to implement authorized electronic signature verification, monitor for price manipulation, and mandates all affected companies to regularize their operations by December 31, 2010.
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