Regulatory Alerts2016-01-01
Decision of the Board of Directors of the Authority No. (107) of 2016 Regarding Corporate Governance Rules for Securities Market Companies
The General Authority for Financial Supervision issued Decision No. (107) of 2016 to mandate comprehensive corporate governance standards for all securities market companies operating under Egyptian capital market regulations. The decision requires these entities to maintain independent board majorities, enforce immediate disclosure of material events, and implement rigorous internal controls and anti-money laundering frameworks. It repeals prior governance directives, establishes an April 30, 2017 compliance deadline for specific auditor reappointment rules, and makes adherence to these standards a mandatory condition for maintaining operating licenses.
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