Regulatory Alerts2018-01-01
Financial Regulatory Authority Board Decision No. 185 of 2018
The Financial Regulatory Authority issued Decision No. 185 of 2018 to extend the compliance deadline for licensed companies involved in founding securities-issuing entities or increasing their capital. This six-month extension, effective from January 1, 2019, allows these firms additional time to regularize their status as mandated by the Authority's previous Decision No. 105 of 2018. The decision was approved by the Board of Directors on December 16, 2018, and became enforceable the day after its publication in the Official Gazette.
General Authority for Financial Supervision
FINANCIAL REGULATORY AUTHORITY
Chairman of the Authority
Decision of the Board of Directors of the General Authority for Financial Supervision
Number (185) for the year 2018 dated 16/12/2018 Regarding extending the deadline for licensed companies to regularize their status in the activity of participating in the founding of companies that issue securities or in increasing their capital
The Board of Directors of the General Authority for Financial Supervision
After reviewing the Capital Market Law issued by Law No. (95) of 1992 and its executive regulations; And Law No. (10) of 2009 regulating supervision on non-banking financial markets and instruments; And Presidential Decision No. (192) of 2009 issuing the Basic Statute of the General Authority for Financial Supervision; And Board of Directors Decision No. (105) of 2018 regarding the controls for companies working in the activity of founding companies that issue securities or in increasing their capital and the rules for regularizing their status; And with the approval of the Board of Directors in its session held on 16/12/2018;
Decided
(Article One)
The deadline granted to licensed companies engaged in the activity of participating in the founding of companies that issue securities or in increasing their capital, as stipulated in Article Six of the aforementioned Board of Directors Decision No. (105) of 2018, is extended for an additional six months starting from 1/1/2019, in order to regularize their status.
(Article Two)
This Decision shall be published in the Egyptian Official Gazette and on the Authority's website, and shall be enforced from the day following its publication in the Official Gazette.
Chairman of the Board of Directors of the Authority Dr. Mohamed Omran
46076
Smart Village, Building No. B-136, Giza, Egypt Postal Code: 12577 Tel.: +202 35245350 - Fax: +202 35370036 info@fra.gov.eg
Smart Village, Building no. B-136, Giza Postal Code: 12577 Tel.: (00202) 35345350 - Fax.: (00202) 35370036 www.FRA.gov.eg