Regulatory Alerts2012-01-01
Egyptian Financial Supervisory Authority Board of Directors Decision No. 68 of 2012
The Egyptian Financial Supervisory Authority (EFSA) issued Board Decision No. 68 of 2012 to mandate that securities brokerage companies utilize secure, automated information systems for receiving, processing, and settling client orders via the Internet. The regulation establishes strict functional and technical specifications, including dedicated client accounts, real-time order management, automated FIX messaging, robust firewall and server infrastructure, and mandatory five-year electronic record retention. Brokerages must formalize compliance with these operational, security, and audit requirements within six months of the decision's publication in the Egyptian Gazette.
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