Regulatory Alerts2015-01-01
Decision No. 14 of 2015 of the Board of Directors of the Egyptian Financial Supervisory Authority
The Egyptian Financial Supervisory Authority issued Decision No. 14 of 2015 to amend the Rules for Listing and Delisting Securities on the Egyptian Exchange by replacing Article 38 with new insider trading restrictions. The amended rule mandates listed companies to implement internal procedures that prohibit insiders and their affiliated groups from trading the company's securities during the five working days before and one working day after the publication of material information. Additionally, shareholders holding 20% or more individually or through affiliated groups must notify the Exchange prior to executing any trades, with all insider transactions required to be completed within one month of notification.
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