Regulatory Alerts2015-01-01
Board of Directors Decision No. 7 of 2015 on Trading Rules for Representatives of the Central Depository and Clearing Company Board, Employees, Spouses, and Minor Children
The Egyptian Financial Supervisory Authority (EFSA) issued Board Decision No. 7 of 2015 to strictly regulate securities trading by representatives of the Central Depository and Clearing Company's board, its employees, their spouses, and minor children. The decision mandates that these individuals must secure prior approval from the Company's board and an EFSA no-objection clearance before trading, while explicitly prohibiting transactions based on undisclosed material information. It further obligates the Central Depository and Clearing Company to maintain comprehensive transaction registers, submit quarterly compliance reports to the EFSA, and ensure all trades are executed exclusively through designated brokerage firms.
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