Chairman of the Authority

Financial Regulatory Authority Board Decision

No. (83) of 2019 dated 2019/7/16

Regarding the Extension of the Deadline for Financial Advisory Firms and Licensed Entities to Regularize Their Registration for Financial Valuation and Fair Value Studies

Financial Regulatory Authority Board

Having reviewed Law No. 10 of 2009 concerning the regulation of supervision over non-banking financial markets and instruments;

and Presidential Decree No. 192 of 2009 concerning the Basic Statute of the Financial Regulatory Authority;

and Board Decision No. 1 of 2017 concerning the issuance of the Egyptian Standards for Financial Valuation of Enterprises;

and Board Decision No. 114 of 2018 concerning the conditions and controls for registering financial advisory firms and licensed entities to perform financial valuation and prepare fair value studies with the Authority, and its amendments;

and Board Decision No. 22 of 2019 concerning the extension of the deadline for financial advisory firms and licensed entities to regularize their registration for financial valuation and fair value studies;

and the Memorandum from the Central Administration for Establishment and Licensing dated 2019/7/9;

and the approval of the Authority's Board at its meeting held on 2019/7/16.

DECIDED

(Article One)

The deadline granted to financial advisory firms and other entities registered in the Financial Advisors Register with the Authority, as referred to in Article Eight of Board Decision No. 114 of 2018, is hereby extended for an additional six months effective from 2019/8/28 to regularize their status.

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(Article Two)

Subject to Article One of this Decision, financial advisory firms and other entities registered in the Financial Advisors Register with the Authority, upon expressing their intention to regularize their status, must submit to the Authority a work plan including a timeline and the measures taken to comply with the controls stipulated in the aforementioned Board Decision No. 114 of 2018, no later than 2019/9/30.

(Article Three)

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.

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Chairman of the Authority's Board

Dr. Mohamed Omran

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Smart Village, Building no. B-136, Giza
Postal Code: 12577
Tel.: (00202) 35345350 - Fax.: (00202) 35370036
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Smart Village, Building 136 - B, Giza, Egypt
Postal Code: 12577
Tel.: +2.02 35345350, Fax: +2.02 35370036
info@fra.gov.eg