Regulatory Alerts2022-01-01
Financial Regulatory Authority Board Resolution No. (150) of 2023 Regarding Electronic Systems for Shareholders' Remote Attendance and Voting at General Assembly Meetings of Listed Companies
The Financial Regulatory Authority issued Board Resolution No. 150 of 2023 to establish mandatory technical and procedural standards for electronic systems enabling remote attendance, voting, and inquiry submission at general assembly meetings of companies listed on Egyptian stock exchanges. The resolution mandates that approved electronic platforms guarantee data confidentiality, verify shareholder identity and share freezing, enable cumulative voting, and securely record meeting discussions as legally binding documents. Non-compliant companies are granted a six-month compliance window, after which the resolution takes full legal effect upon publication in the Egyptian Gazette.
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