Regulatory Alerts2023-01-01
Decision of the Chairman of the Authority No. (1670) for 2023 Regarding the Reconstitution of the Committee for Adjudicating Licensing Applications for Full-Time Investment Managers for Private Insurance Funds
The Financial Regulatory Authority of Egypt issued Decision No. 1670 for 2023 to formally reconstitute its Licensing Committee for full-time investment managers of private insurance funds. The decree appoints Deputy Chairman Salam Azzam as chair, defines five specific member roles from central administrations, and assigns secretariat duties to a designated specialist. It establishes operational rules mandating monthly meetings, quorum requirements of two-thirds attendance, majority voting for recommendations, and the formal submission of minutes to the Authority's Chairman for approval.
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