Regulatory Alerts2013-01-01
Board of Directors Decision No. (69) of 2013
The Egyptian Financial Supervisory Authority (EFSA) issued Decision No. (69) of 2013 to amend Decision No. (143) of 2010 regarding the registration and trading of shares for securities-sector companies. The amendment revises Article 7 to cap intangible assets at 50% of total equity or 30% of total assets based on the preceding three annual financial statements, and clarifies Article 3 by exempting capital-increasing or establishment-participating companies from the decision unless they hold a controlling stake in a securities brokerage, in which case specific brokerage compliance standards apply. The decision was approved on November 25, 2013, and became effective the day after its publication in the Egyptian Gazette and on the EFSA website.