Regulatory Alerts2015-01-01
Board of Directors Decision No. (106) of 2015 on Securities Brokerage Licensing Rules
The Capital Markets Authority issued Decision No. 106 of 2015 to establish licensing requirements for new securities brokerage companies. The regulation mandates that applicants submit a market-driven business plan and maintain a minimum paid-up capital of 15 million Egyptian pounds, while requiring at least two-thirds of the company's ownership to be held by banks or financial institutions possessing over 50 million Egyptian pounds in paid-up capital and substantial securities investments. Additionally, the decision bars entities or board members under investigation for capital market violations from participation, requires prior Authority approval for any subsequent share transfers, and ensures ongoing compliance with these financial and regulatory standards.