2022-01-01

Financial Regulatory Authority Board Resolution No. 131 of 2022 Renewing the Voluntary Suspension Period for Al-Suwaidi Capital's Securities and Investment Fund Activities for a Third Year

The Financial Regulatory Authority issued Board Resolution No. 131 of 2022 on September 27, 2022, extending the voluntary suspension of Al-Suwaidi Capital’s securities portfolio management and investment fund activities for a third year. Grounded in Article 33 of the Capital Market Law, the resolution formally extends the company's operational pause following prior suspensions in 2020 and 2021. It takes effect the day following issuance, requires publication on stock exchange screens and the Authority’s website, and mandates implementation by all relevant regulatory bodies.

Financial Regulatory Authority Egypt logo

Egypt

Financial Regulatory Authority Egypt

Click to view thumbnail

FINANCIAL REGULATORY AUTHORITY

FINANCIAL REGULATORY AUTHORITY


Chairman of the Authority

Resolution of the Board of Directors of the Financial Regulatory Authority

No. (131) for the year 2022 dated 27/9/2022
Regarding the renewal of the voluntary suspension period for Al-Suwaidi Capital's activities in securities portfolio management and investment funds for a third year


Board of Directors of the Financial Regulatory Authority

Having reviewed the Capital Market Law issued by Law No. (95) of 1992,
and Law No. 10 of 2009 regarding the regulation of supervision over non-banking financial markets and instruments;
and Presidential Decree No. 192 of 2009 regarding the Basic Law of the Financial Regulatory Authority;
and Board Resolution No. (194) of 2018 regarding the conditions and controls for the voluntary suspension of activities of companies operating in the securities field, amended by Resolution No. (76) of 2019;
and Board Resolution No. (150) dated 16/9/2020 regarding the voluntary suspension of Al-Suwaidi Capital's activities in securities portfolio management and investment funds;
and Board Resolution No. (151) dated 29/9/2021 regarding the renewal of the voluntary suspension period for Al-Suwaidi Capital's activities in securities portfolio management and investment funds for a second year;
and the Ordinary General Assembly Resolution of the Company held on 15/9/2022 renewing the voluntary suspension of Al-Suwaidi Capital's activities in securities portfolio management and investment funds for another year;
and the memorandum dated 25/9/2022 from the Corporate Governance Central Department, dated 27/9/2022,
and the approval of the Board of Directors in its session held on 27/9/2022.


RESOLVED

(Article One)

The suspension period for Al-Suwaidi Capital's activities in securities portfolio management and investment funds is extended voluntarily for a (third) year, in accordance with Article 33 of the Capital Market Law issued by Law No. 95 of 1992.

(Article Two)

This Resolution shall be published on the stock exchange screens and the Authority's website, and this Resolution shall take effect from the day following its issuance date. The competent authorities are tasked with implementing it, each within its respective jurisdiction.


Chairman of the Board of Directors
Dr. Mohamed Fared Saleh


Smart Village, Building 136, Giza, Egypt

Postal Code: 110
Telephone: +2023054050
Fax: +2023078067
WWW.FRA.GOV.EG


ARAB REPUBLIC OF EGYPT
Building Bridges not Walls