Regulatory Alerts2020-01-01
Board Decision No. (127) of 2020
The Financial Regulatory Authority issued Board Decision No. (127) of 2020 to amend licensing rules for futures exchanges by adding two provisions to Article Two. The amendment prohibits the Chairman of the Board from concurrently holding the Managing Director or Chief Executive Officer position, and restricts board service for the Chairman and executive members to a maximum of three terms, not exceeding nine consecutive or non-consecutive years. This decision takes effect the day following its publication in the Egyptian Gazette and on the Authority’s electronic website.
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