Regulatory Alerts2013-01-01
Decision of the Egyptian Financial Supervisory Authority Board No. 77 dated 27/4/2013 on increasing the insurance amount for securities brokers dealing in foreign deposit certificates
The Egyptian Financial Supervisory Authority issued Decision No. 77 of 2013 to increase the mandatory insurance coverage for securities brokerage firms dealing in foreign deposit certificates linked to Egyptian Exchange-listed securities. The decision sets the insurance increase at one per thousand of the daily average value, requiring firms to adjust their coverage amounts on January 1 and June 30 of each year. This amendment to prior guidelines ensures adequate financial protection and takes effect the day after publication in the Egyptian Gazette and on official websites.
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