Regulatory Alerts2017-01-01
Resolution of the Board of Directors of the Authority No. (95) of 2017
The Egyptian Financial Supervisory Authority issued Resolution No. (95) of 2017 to establish a disciplinary framework for licensed Central Securities Depository and Registration companies that violate capital market laws or threaten market stability. The resolution empowers the Authority to impose escalating corrective measures, including formal warnings, mandatory board reviews, executive removal, and increased financial guarantees, while authorizing additional sanctions for firms experiencing financial distress. Application of these measures requires a reasoned board decision and formal notification, with provisions for escalated supervisory actions if compliance deadlines are missed, and the resolution takes effect the day after its official publication.