Regulatory Alerts2015-01-01
Decision No. 40 of 2015 Regarding Conditions for Registering, Transferring, and Closing Branches of Securities Portfolio Management Companies
The Egyptian Financial Supervisory Authority (EFSA) issued Decision No. 40 of 2015 to establish strict regulatory conditions for the registration, transfer, and closure of branches by companies licensed to conduct securities portfolio formation and management. The regulation classifies branches into portfolio management units and marketing/promotion units, mandating minimum capital thresholds, specific managerial experience requirements, and annual supervisory fees. It further outlines a ten-day review process for branch applications, requires existing companies to regularize their branch statuses within six months, and strictly prohibits branch officials from conducting activities beyond their licensed scope.
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