Regulatory Alerts2014-01-01
Chairman's Decision No. (442) of 2014 Concerning the Model Founders' Agreement and Articles of Association for an Investment Fund Company
The Chairman of the Egyptian Financial Supervisory Authority issued Decision No. 442 of 2014 to mandate the use of standardized model founders' agreements and articles of association for all investment fund companies. The decision requires founders to obtain prior regulatory approval for any deviations from or additions to the model articles, provided such modifications do not contravene mandatory legal provisions or infringe upon minority and policyholder rights. This regulation was published in the Egyptian Gazette and on the Authority's official website to take effect the day following its June 2, 2014 issuance date.
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