Regulatory Alerts2010-01-01
Board of Directors Decision No. (70) of 2010
The Egyptian Financial Supervisory Authority (EFSA) issued Board Decision No. 70 of 2010 to amend specific provisions of its prior Decision No. 24 of 2008 concerning intraday share trading. The amendment formally replaces the term "activity" with "mechanism" throughout the referenced decision and its attached rules. Additionally, it raises the minimum capital deposit or bank guarantee requirement to five million Egyptian pounds and one hundred thousand US dollars, and adjusts the applicable ratio from one in ten thousand to one in five thousand.
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