Regulatory Alerts2023-01-01
Decision No. (2-6) of 2023 Regarding the Regulation of Supervision over Elections to the Board of Directors of the Egyptian Securities Association
The Financial Regulatory Authority (FRA) issued Decision No. (2-6) of 2023 to establish a supervisory committee for elections to the Board of Directors of the Egyptian Securities Association. The decision mandates a five-member committee, chaired by the Deputy Head of Ehlam Central Administration, to manage candidate nominations, verify voting rights across five specific industry categories, and conduct elections using secured technological systems. It further outlines precise voting procedures, tie-breaking mechanisms, result announcement timelines, and the legal basis for conducting elections via digital platforms.
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