Regulatory Alerts2011-01-01
Board of Directors Decision No. (26) of 2011 dated 20/4/2011
The Egyptian Financial Supervisory Authority (EFSR) issued Decision No. 26 of 2011 to mandate that companies listed on the Nile Stock Exchange must comply with its disclosure requirements and financial reporting standards effective from the exchange's launch on June 3, 2010, covering all financial periods ending on or after June 30, 2010. This directive formally establishes the regulatory compliance timeline for newly listed entities and clarifies that reporting obligations apply retroactively to the exchange's initial trading date. The decision further instructs the Authority's central departments, the Egyptian Exchange, and the Egyptian Clearing, Depository and Registry Company to enforce these rules within their respective operational scopes.
Egyptian Financial Supervisory Authority (EFSR)
Board of Directors Decision
Egyptian Financial Supervisory Authority
Decision No. (26) of 2011 dated 20/4/2011
Chairman of the Board of Directors of the Egyptian Financial Supervisory Authority
Having reviewed Law No. 95 of 1992 issuing the Capital Market Law and its Executive Regulations,
Having reviewed Law No. 10 of 2009 concerning the regulation of supervision over non-banking financial markets and instruments,
Having reviewed Presidential Decree No. 193 of 2009 concerning the Basic Statute of the Egyptian Financial Supervisory Authority,
Having reviewed the Board of Directors Decision No. 30 of 2007 concerning the issuance of listing, continuous listing, and delisting rules for the Egyptian Exchange and its amendments,
Having reviewed the Board of Directors Decision No. 62 of 2007 dated 11/7/2007 concerning the rules for listing securities issued by small and medium-sized companies,
Having reviewed the memorandum prepared by the competent administration within the Authority,
And having approved the Board of Directors Decision at its meeting held on 20/4/2011,
It has been decided
Article (1)
Listed companies on the Nile Stock Exchange are obligated to comply with disclosure requirements and financial statement submission rules starting from the commencement of trading on the Nile Stock Exchange on 3/6/2010, specifically for financial statements covering the period ending 30/6/2010 and thereafter.
Article (2)
The central sectors and departments of the Authority, the Egyptian Exchange, and the Egyptian Clearing, Depository and Registry Company shall implement this decision within their respective jurisdictions.
Article (3)
This decision shall be published in the Egyptian Gazette and shall take effect from the date of its issuance.
Dr. Ashraf El-Sharqawy
Chairman of the Board of Directors
Main Address: Al-Herriya Al-Hakima, Building 15 - B 84
Km 28, Cairo/Alexandria Desert Road
6th of October Governorate, Postal Code: 11577
Telephone: 0400 2357 202
Fax: 041 2357 202
Email: info@efsa.gov.eg
Website: www.efsa.gov.eg
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