Regulatory Alerts2014-01-01
Decision No. (157) of 2014 of the Authority's Board of Directors
The Egyptian Financial Supervisory Authority issued Decision No. 157 of 2014 to amend Decision No. 17 of 2014 regarding the registration of foreign entities as custodian banks and in the Registered Owner Register. The amendment introduces a new paragraph to Article 3 requiring the Authority to notify the Central Bank of Egypt of any bank's application, with the Central Bank obligated to submit comments within one week. The decision also repeals Clause 5 of Article 1, renumbers the remaining clauses, and takes effect the day following its publication in the Egyptian Gazette and on the Authority's website.
Share