Circular Letter No. (6)

Issued on 26/4/2010

After reviewing Law No. 159 of 1981 concerning Joint Stock Companies, Companies Limited by Shares, and Limited Liability Companies and its executive regulations,

And Law No. 95 of 1992 concerning the Capital Market and its executive regulations,

And the Board of Directors of the Authority Decision No. 87 of 2008 concerning anti-money laundering controls for companies operating in the securities sector,

And the Circular Letter issued by the Capital Market Authority under No. (6) dated 24/11/1998.

It is therefore:

"Brokerage companies shall not execute orders issued to them by banks on behalf of clients unless the following are fulfilled:

1. Obtaining a declaration from the bank specifying the name and details of the client for whom the transaction is requested, the name of the authorized representative(s) from the bank to transact on the account, and the limits of this authorization.

2. Obtaining from the bank a declaration specifying that the contract between the bank and the client allows the bank to transact for this client at the stock exchange, and that the contract between the client and the bank takes into account the application of the provisions of the Anti-Money Laundering Law and its executive regulations and the decisions issued in implementation thereof."

Hesham Ibrahim
Supervisor of the Central Administration for the Technical Office Affairs To the Head of the Authority

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Source:

Main Address: Smart Village, Building 15 – 84 B Km 78, Cairo/Alexandria Desert Road 6th of October Governorate, Postal Code: 12577

Telephone: +202 2527 0040 - Fax: +202 2527 0041 Email: info@efsa.gov.eg Website: www.efsa.gov.eg

Egyptian Financial Supervisory Authority (EFSА) الهيئة العامة للرقابة المالية