Regulatory Alerts2015-01-01
Board of Directors Decision No. (1) of 2015
The Egyptian Financial Supervisory Authority issued Decision No. (1) of 2010 to establish binding regulations for the transfer and permanent closure of branches operated by licensed securities brokerage companies. The decision mandates specific documentation, including board resolutions, customer notification periods, and technical infrastructure verification, while outlining strict deadlines for regularizing temporarily closed branches or facing permanent deregistration. It further assigns the Central Administration for Establishment and Licensing fifteen days to process applications and formally repeals the previous 2009 decision on branch transfers and closures.
Share