Regulatory Alerts2023-01-01
Capital Markets Authority Board of Directors Resolution No. 28 of 2023
The Capital Markets Authority issued Resolution No. 28 of 2023 to amend Articles 27, 28, and 39 of the Egyptian Securities Union's Articles of Association. The resolution restructures the thirteen-member governing board by specifying sectoral representation for brokerage, fund management, underwriting, and custodianship while mandating at least two female members and defining strict eligibility criteria for experienced independent directors. It further establishes four specialized committees, sets a three-year renewable term for board members, and mandates publication in the Egyptian Gazette and on the Authority's website to take effect immediately upon release.
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