Regulatory Alerts2009-01-01
Capital Market Authority Board of Directors Decision No. (72) of 2009
The Capital Market Authority (CMA) of Egypt issued Decision No. 72 of 2009 to grant preliminary approval for the Basic Standards for Professional Performance governing securities evaluation, classification, and rating firms under its supervision. The decision mandates that the draft standards be published on the CMA website for specialist and public feedback prior to final Board of Directors approval. It further directs all relevant central departments to implement the decision and stipulates that it takes effect the day following its official website publication.
Board of Directors Decision
Capital Market Authority
No. (72) of 2009 dated 2009/12/2
Chairman of the Board of Directors of the Capital Market Authority
Having reviewed the Capital Market Law No. 95 of 1992 promulgating the Capital Market Law, and its Executive Regulations,
and on Law No. 10 of 2009 concerning the regulation of supervision over non-Egyptian markets and financial instruments,
and on the memorandum submitted to the Authority's Board of Directors,
and on the approval of the Authority's Board of Directors at its meeting held on 2009/11/23,
Decided
Article (1)
Principle approval is granted for the issuance of the Basic Standards for Professional Performance of companies under the Authority's supervision that engage in the activity of evaluating, classifying, and rating securities, provided that the draft standards mentioned are published through the Authority's website to receive comments from specialists and interested parties. The standards will be resubmitted in their final form to the Authority's Board of Directors for issuance.
Article (2)
The relevant central sectors and departments of the Authority shall implement this decision within their respective jurisdictions.
Article (3)
This decision shall be published on the Authority's website and shall take effect from the day following its publication date.
Dr. Ziad Bahaa El-Din
Chairman of the Authority
47076
Main Address: Al-Daira Al-Sawiya, Bani 15 - 84 B
Km 68 Cairo/Alexandria Desert Road
6th of October Governorate, Postal Code: 12577
Telephone: +202 3537 0040 - Fax: +202 3537 0041
Email: info@efsa.gov.eg
Website: www.efsa.gov.eg