Regulatory Alerts2014-01-01
Decision of the Chairman of the Authority No. (8) of 2014
The Egyptian Financial Supervisory Authority (EFSA) issued Decision No. 8 of 2014 mandating licensed securities companies to submit an Excel file containing detailed personal and contact data for their board members, executives, employees, and related parties to insiders@efsa.gov.eg by January 23, 2014. The regulation defines covered individuals to include direct relatives up to the second degree and entities with significant ownership or board representation, requiring annual updates and immediate notification of any changes. Internal auditors at these firms are tasked with establishing internal controls to verify data accuracy, while the decision takes effect the day after publication on the Authority’s and Stock Exchange’s websites.
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