Regulatory Alerts2019-01-01
Financial Regulatory Authority Board Decision No. (10) of 2019 Amending Certain Provisions of Decisions No. (85, 162) of 2018
The Financial Regulatory Authority (FRA) of Egypt issued Board Decision No. 10 of 2019 to amend specific provisions of its prior Decisions No. 85 and 162 of 2018 governing the regulation of non-banking financial markets. The amendment replaces a three-year post-penalty execution clause with a loss-of-good-reputation standard, clarifies that criminal reconciliation no longer prevents board member exclusion once a judgment becomes final, and updates disclosure form titles to capture new reputation-related violations. The decision also mandates a standardized disclosure form for company chairmen and board members, requiring comprehensive personal, reputational, and compliance data alongside supporting legal documentation.
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