Regulatory Alerts2019-01-01
Decision No. (60) of 2019 Implementing Board Decision No. (106) of 2018 on Registration, Renewal, and Deletion Conditions for Non-Banking Corporate Agents
The Financial Regulatory Authority (FRA) issued Decision No. 60 of 2019 to amend the registration, renewal, and deletion conditions for agents of corporate institutions operating in non-banking activities. The amendment mandates that the draft performance contract and the company's articles of association must be submitted using the Authority's standardized model and certified by a lawyer registered with the Egyptian Bar Association. This decision was approved by the FRA Board of Directors on April 30, 2019, and takes effect the day after its publication in the Egyptian Gazette and on the Authority's website.
Financial Regulatory Authority
FINANCIAL REGULATORY AUTHORITY
Chairman of the Authority
Decision No. (60) of 2019 dated 30/4/2019
Implementing Board Decision No. (106) of 2018
Regarding the Conditions for Registration, Renewal, and Deletion of Agents of Corporate Institutions Operating in Non-Banking Activities in the Authority's Register
Board of Directors of the Financial Regulatory Authority
Having reviewed the Capital Market Law issued by Law No. 95 of 1992 and its Executive Committee, Law No. 10 of 2009 regarding the regulation of supervision over non-banking markets and financial instruments, Presidential Decree No. 192 of 2009 regarding the Basic Statute of the Financial Regulatory Authority, Board Decision No. 106 of 2018 regarding the conditions for registration, renewal, and deletion of agents of corporate institutions operating in non-banking activities in the Financial Regulatory Authority's register, and upon the approval of the Board of Directors in its session held on 30/4/2019.
DECREE
(Article One)
Amending Item One of Article Four of Board Decision No. (106) of 2018 regarding the conditions for registration, renewal, and deletion of agents of corporate institutions operating in non-banking activities in the Financial Regulatory Authority's register as follows:
- The draft performance contract and the company's articles of association shall be submitted according to the model prepared by the Authority, certified by one of the lawyers registered on the rolls of the Bar Association.
(Article Two)
This Decision shall be published in the Egyptian Gazette and on the Authority's website, and shall take effect from the day following its publication in the Egyptian Gazette.
Chairman of the Board of Directors
Dr. Mohamed Omran
Smart Village, Building No. B-136, Giza, Egypt
Postal Code: 12577
Tel.: +202 35245250 - Fax: +202 35270026
info@fra.gov.eg
Smart Village, Building No. B-136, Giza
Postal Code: 12577
Tel.: (00202) 35345350 - Fax: (00202) 35370036
www.FRA.gov.eg