Regulatory Alerts2019-01-01
Decision of the Board of Directors of the Financial Regulatory Authority No. 161 of 2019 Regarding the Temporary Suspension of Hermes for Bond Trading Company's Activities
The Financial Regulatory Authority (FRA) of Egypt has issued Decision No. 161 of 2019 to temporarily suspend the trading activities of Hermes for Bond Trading Company for a period of one year. This suspension takes effect the day after the decision's issuance on November 21, 2019, and the company's operations will automatically resume the day following the expiration of the one-year period. The decision was adopted following the company's extraordinary general assembly resolution, a corporate governance memorandum, and the FRA Board's approval, aligning with existing capital market laws and voluntary suspension regulations.
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