Regulatory Alerts2009-01-01
CMA Board of Directors Resolution No. 8 of 2009
The Capital Market Authority issued Resolution No. 8 of 2009 to establish specific fees for services related to the registration of accountants in its official register. The resolution mandates a one-time fee of 1,000 Egyptian pounds for transferring existing registrations and 2,000 Egyptian pounds for processing new registration applications. Additionally, it imposes an annual fee of 500 Egyptian pounds on accountants auditing companies listed on the Egyptian Exchange, mutual funds, securities firms, and banks or insurance companies with investment funds.
CMA Board of Directors Resolution No. (8) of the Year 2009 dated 2009/1/28
In light of the memorandum presented to the Board, which was approved for determining the fees for registration services in the Register of Accountants at the Authority, established pursuant to the provisions of Law No. 123 of the Year 2008, as follows:
- A fee for the service of transferring the registration of accountants from the current register at the Authority, totaling 1,000 Egyptian pounds.
- A fee for the service of studying and examining new registration applications in the register, totaling 2,000 Egyptian pounds.
And approval for determining an annual service fee of 500 Egyptian pounds for the first month for any accountant who audits the accounts of the following companies:
- Companies whose financial securities are registered with the Egyptian Exchange.
- Mutual funds companies.
- Companies operating in the field of securities.
- Investment funds established by banks and insurance companies.