Regulatory Alerts2017-01-01
Decision of the Minister of Investment and International Cooperation No. (33) of 2017
The Egyptian Minister of Investment and International Cooperation issued Decision No. 33 of 2017 to amend the Executive Regulations of the Capital Market Law by introducing Chapter Thirteen on beneficial ownership identification rules for market participants. The decision mandates that legal persons disclose detailed ownership and governance data, including ultimate beneficial owners holding 10% or more, whenever they issue shares, seek regulatory approvals for offers or listings, establish or acquire financial market entities, or engage in other activities affecting market stability. Additional layered disclosure requirements apply for corporate structures with 25% or more shareholders and investment funds, necessitating transparent reporting of trustees, settlors, beneficiaries, and nested ownership chains to ensure market transparency and regulatory oversight.