Regulatory Alerts2018-01-01
FRA Board Decision No. 14 of 2018 Regarding Conditions for Registering Financial Consulting Companies for Valuation and Fair Value Studies
The Financial Regulatory Authority (FRA) issued Decision No. 14 of 2018 to establish a mandatory register for financial consulting companies and licensed entities authorized to perform financial valuations and fair value studies. The decision mandates strict eligibility criteria for registration, including professional experience, specific educational qualifications, and the ability to pass FRA-approved examinations. Furthermore, it imposes rigorous ongoing compliance obligations, such as maintaining professional indemnity insurance, ensuring strict independence to avoid conflicts of interest, and adhering to the Egyptian Financial Valuation Standards for Enterprises.
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