Regulatory Alerts2016-01-01
Decision of the Board of Directors of the Authority No. (47) of 2016
The Egyptian Financial Supervisory Authority issued Decision No. (47) of 2016 to amend the Egyptian Exchange's Rules for Listing and Delisting Securities. The decision expands mandatory disclosure requirements by establishing a 2% of shareholders' equity threshold for reporting binding financial judgments and lawsuits, and mandates immediate notification of the Exchange regarding court rulings imposing imprisonment on issuers' board members or senior executives. These amendments take effect the day after publication in the Egyptian Official Gazette and are to be enforced by the Exchange and relevant Authority departments.
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