Regulatory Alerts2010-01-01
Board Decision No. (143) of 2010
The Egyptian Financial Supervisory Authority (EFSA) issued Board Decision No. 143 of 2010 to regulate the listing and trading of shares for securities sector companies and institutions. The decision mandates that applicants obtain a non-objection letter by meeting strict financial and operational criteria, including minimum tangible asset and self-financing ratios, a three-year operational track record, and compliance with corporate governance standards such as independent board majorities and executive shareholding limits. Furthermore, it imposes ongoing obligations regarding shareholder retention, quarterly financial reporting, and prohibitions on affiliated trading through connected brokerage firms.
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