Regulatory Alerts2017-01-01
Decision of the Board of Directors No. (7) of 2017 Concerning the Amendment of Certain Provisions of the Financial Solvency Standards for Securities Market Companies
The Financial Regulatory Authority issued Decision No. 7 of 2017 to amend the financial solvency standards for securities market companies under Decision No. 14 of 2007. The amendment mandates that these companies electronically report their daily liquid capital to the Authority and the Egyptian Exchange, certified by their CFO and Managing Member, while establishing quarterly and annual net liquid capital reporting deadlines of 45 and 90 days respectively. It further requires the Egyptian Exchange to submit daily consolidated solvency statements to the Authority and repeals the previous clause (e) governing these obligations.
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