Regulatory Alerts2023-01-01
Decision No. 26 of 2023 Regarding the Regulation and Examination of Candidacy Applications for the Elections of the Board of Directors of the Egyptian Securities Union
The Financial Regulatory Authority issued Decision No. 26 of 2023 to regulate and standardize the procedures for nominating and examining candidates for the Egyptian Securities Union's Board of Directors elections. The decision mandates that the Founding Committee announce nominations at least 45 days before the General Assembly meeting, establishes a dedicated examination committee to verify candidate qualifications within two weeks, and requires the submission of specific statutory documents including violation, bankruptcy, and protest certificates. It further repeals the previous 2019 decision and outlines distinct eligibility criteria for both active securities company representatives and independent experienced members.
Share