Board of Directors Decision No. 23 of 2021 Regarding Trading Regulations for Youth Aged 16 to Under 21 in Securities Listed on the Egyptian Exchange

Financial Regulatory Authority
FINANCIAL REGULATORY AUTHORITY

Chairman of the Authority

Board of Directors Decision No. (23) of 2021 dated 2021/2/21 Regarding the Regulations for Trading by Youth in the Age Group of 16 to Under 21 Years in Securities Listed on the Egyptian Exchange

The Board of Directors of the Financial Regulatory Authority Having reviewed the Civil Code; and Law No. (119) of 1952 regarding guardianship over property; and the Capital Market Law issued by virtue of Law No. (95) of 1992; and Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments; and Board of Directors Decision No. (11) of 2014 regarding the rules for listing and delisting securities on the Egyptian Exchange; and after approval by the Board of Directors in its meeting held on 2021/2/21;

DECIDES

(Article One)
Youth in the age group of 16 to under 21 years are permitted to trade in securities listed on the Egyptian Exchange, limited to the income earned from their work and funds received for their living expenses, in addition to the right of those who have reached the age of eighteen and have been authorized by their guardian or the court, or who receive such funds by operation of law, to manage their own assets. All of the foregoing shall be subject to the legal regulations stipulated in the Civil Code and the Guardianship over Property Law. In all cases, the trading portfolio for any single client from the aforementioned age group must not exceed ten thousand Egyptian pounds, and this shall be strictly limited to the purchase and sale of securities listed on the Egyptian Exchange, excluding specialized activities such as margin trading and short selling (borrowing securities for the purpose of sale).

(Article Two)
Securities brokerage firms, portfolio management and formation companies, and investment funds shall issue a specialized guide for the youth category referred to in Article One of this Decision, specifically detailing the benefits of trading on the Egyptian Exchange, whether regarding direct purchase and sale, forming securities portfolios through licensed companies, or trading investment fund units.

(Article Three)
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 136, Giza, Egypt
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