Circular No. 2 of 2019

Regarding directing company brokers and producers not to publish any advertisements or promotional materials for themselves on social media pages except after obtaining approval from the company they belong to or deal with.

In the context of the Authority's efforts to achieve its objectives and work towards the safety and stability of non-banking financial markets, regulating and developing them, preserving the rights of its clients, and providing the means, systems, and issuing rules that ensure the efficiency of these markets, as well as protecting the rights of insurance policyholders, beneficiaries, and others.

Given that the Authority has recently observed some brokers and insurance producers publishing advertisements regarding insurance products of the insurance companies they deal with or work for on social media pages, while using the logos of these insurance companies in such advertisements.

Therefore, companies are required to direct their marketing staff and the brokers dealing with them to obtain the company's approval before publishing any advertisements or posts on their personal social media pages, particularly those related to those insurance products. They are also warned of the risk of legal measures being taken against them, particularly in accordance with the regulations of each company they work for or deal with in case of violation. It is also mandatory to notify the Authority of any broker violation, whether independent or a producer in a financial category, to take the necessary legal actions.

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Deputy Chairman of the Authority

(Advisor / Reda Abdel Aty)

[Official Seal of the Financial Regulatory Authority - Deputy Chairman of the Authority]

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