Regulatory Alerts2022-01-01
Board of Directors Resolution No. 47 of 2022
The Capital Market Authority issued Board Resolution No. 47 of 2022 to amend the Articles of Association of the Egyptian Securities Union. The resolution revises the definition of an independent board member with expertise, updates eligibility criteria for union board candidates including custodian bank representatives, and mandates that female representation on the board constitutes at least 25% or two seats. All board members must remain non-executive, with the Chairman and Deputy Chairman drawn from securities company representatives.
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