Regulatory Alerts2020-01-01
Board of Directors Decision No. (77) of 2020
The Financial Regulatory Authority’s Board of Directors issued Decision No. 77 of 2020 to reduce the service fees for trading securities and financial instruments listed on the Egyptian Exchange to five thousandths of each transaction’s value, while maintaining existing minimum and maximum limits. A fifty percent reduction is specifically applied to this rate for bonds, debt certificates, and other debt instruments. The Central Clearing, Depository and Registry Company is mandated to collect these fees and remit them to the Authority within one week of collection, with the decision taking immediate effect upon publication in the Egyptian Gazette and on the Authority’s official website.
Financial Regulatory Authority
FINANCIAL REGULATORY AUTHORITY
Head of the Authority
Board of Directors Decision No. (77) of 2020 dated 10/5/2020
Regarding the Service Fees Due to the Authority for Trading of Securities and Financial Instruments Listed on the Egyptian Exchange
Board of Directors of the Financial Regulatory Authority
Having reviewed the Capital Market Law issued by Law No. (95) of 1992; and Law No. (10) of 2009 regulating supervision over non-Egyptian markets and financial instruments; and Presidential Decision No. (197) of 2009 issuing the Basic Statute of the Financial Regulatory Authority; and Prime Ministerial Decision No. (106) of 2020 amending certain provisions of Prime Ministerial Decision No. (239) of 2019 regarding the reorganization of the Non-Commercial Risks Insurance Fund for the activities of companies whose securities or financial instruments are listed on Egyptian exchanges or operating in the field of securities and financial instruments; and Chairman of the General Authority for the Capital Market Decision No. (50) of 2005; and upon the approval of the Authority's Board of Directors in its meeting held on 10/5/2020;
Has Decided
(Article One)
The service fees due to the Authority for trading securities and financial instruments listed on the Egyptian Exchange are reduced to five thousandths of the value of each transaction, while maintaining the minimum and maximum limits, with this rate reduced by fifty percent (50%) for bonds, debt certificates, and other debt instruments.
The Central Clearing, Depository and Registry Company (CCDI) shall collect the due amount according to the preceding paragraph and remit it to the Authority within one week from the date of collection.
(Article Two)
This Decision shall be published in the Egyptian Gazette and on the Authority's website, and shall be enforced from the date of its issuance.
Chairman of the Board of Directors Mohamed Omran
46.76
Smart Village, Building 136, Giza, Egypt
Postal Code: 110 Telephone: +202 35345750 Fax: +202 35370066 WWW.FRA.GOV.EG
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