Regulatory Alerts2010-01-01
Decision of the Board of Directors of the Authority No. (21) of 2010 Regarding the Basic Standards of Professional Performance for Securities Evaluation, Classification, and Structuring Companies
The Egyptian Financial Supervisory Authority (EFSA) issued Decision No. (21) of 2010 to mandate that securities evaluation, classification, and structuring companies comply with standardized professional performance criteria. The regulation requires firms to implement rigorous internal controls, maintain qualified and independent analysts, establish transparent rating methodologies, and retain supporting documentation for at least five years. It further mandates continuous rating updates, strict conflict-of-interest safeguards, and simultaneous public disclosure of all rating results to ensure market credibility and investor protection.
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