Regulatory Alerts2012-01-01
Prime Minister's Decree No. 572 of 2012 Amending Certain Provisions of the Executive Regulations of the Capital Market Law
The Egyptian Prime Minister issued Decree No. 572 of 2012 amending the Executive Regulations of the Capital Market Law to restrict foreign securities trading and clarify client authorization procedures. The decree explicitly prohibits brokerage firms from trading foreign securities for their own or client accounts, except for deposit certificates corresponding to Egyptian Exchange-listed securities under Financial Regulatory Authority controls. All licensed financial companies must align their operations with these new provisions within six months of the decree's publication in the Egyptian Gazette.
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