Regulatory Alerts2014-01-01
Decision No. 745 of 2014 on Rules and Procedures for Selecting Representatives of Securities Companies to the Investor Protection Fund Board of Directors against Non-Commercial Risks
The Egyptian Financial Regulatory Authority (FRA) issued Decision No. 745 of 2014 to establish the rules and procedures for electing representatives of securities companies to the Board of Directors of the Investor Protection Fund against Non-Commercial Risks. The decision mandates strict eligibility criteria for both nominating member companies and individual candidates, including financial compliance, clean regulatory records, and minimum professional experience, while outlining a structured nomination, review, and appeals process. It further details the voting mechanisms, ballot requirements, election supervision committee composition, and replacement procedures for board members to ensure transparent and accountable governance of the fund.