Financial Regulatory Authority

FINANCIAL REGULATORY AUTHORITY

---

Chairman of the Authority

---

Decision of the Board of Directors of the Financial Regulatory Authority

No. (40) of 2020 dated 2020/3/2

Amending Decision of the Board of Directors of the Authority No. (33) of 2018 Regarding Licensing Conditions

for Securities Market Companies Receiving Subscriptions in Investment Fund Documents

---

Board of Directors of the Financial Regulatory Authority

Having reviewed the Capital Market Law issued by Law No. (95) of 1992 and its Executive Regulations;
and the Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments;
and Presidential Decision No. (192) of 2009 issuing the Basic Statute of the Financial Regulatory Authority;
and Decision of the Board of Directors of the Financial Regulatory Authority No. (125) of 2015 regarding expertise and competence standards for managers of securities market companies;
and Decision of the Board of Directors of the Authority No. (33) of 2018 regarding licensing conditions for securities market companies receiving subscriptions in investment documents;
and the approval of the Board of Directors at its meeting held on 2020/3/2;

---

Has Decided

(Article One)

The following two texts shall replace Item "1" of Paragraph Two of Article Two and Item "5" of Article Four of Decision of the Board of Directors of the Authority No. (33) of 2018 regarding licensing conditions for securities market companies receiving subscriptions in investment fund documents:

---

Article Two – Paragraph Two – Item "1":

1- That it holds a license from the Authority to conduct one of the aforementioned activities, provided that appropriate expertise is available among the managers of this activity as stipulated in the aforementioned Decision of the Board of Directors of the Authority No. (125) of 2015.

---

Article Four – Item "5":

5- Designating an independent account separate from its funds at a bank, or at outlets of the National Postal Authority that meet the conditions specified by the Authority, to deposit the proceeds of funds received from subscriptions in the fund's investment documents, with the postal outlet obligated to provide automated connectivity with the company to facilitate verification and the company's certification of the Know Your Customer (KYC) form.

---

(Article Two)

This Decision shall be published in the Egyptian Gazette and on the websites of both the Authority and the Egyptian Exchange, and shall take effect from the day following its publication in the Egyptian Gazette.

---

Chairman of the Board of Directors
Dr. Mohamed Omran

---

Smart Village, Building 137, Giza, Egypt
Postal Code: 110
Telephone: +202 2052050
Fax: +202 20570037
WWW.FRA.GOV.EG

---

Building Bridges not Walls
We Build Bridges, Not Walls

---