Regulatory Alerts2014-01-01
Capital Market Authority Board of Directors Decision No. (37) of 2014
The Capital Market Authority (CMA) of Egypt issued Decision No. (37) of 2014 to regulate securities brokerage and portfolio management firms' trading activities in foreign securities not listed on Egyptian exchanges. The decision prohibits dealing in such unlisted foreign securities for Egyptian or resident foreign clients, while permitting transactions for non-resident clients only after obtaining prior CMA approval and adhering to strict foreign currency payment and execution requirements. Firms must maintain detailed transaction registers, obtain license addendums within 15 days, and comply with existing CMA Decision No. (9) of 2013 and the Capital Market Law.
Share