Regulatory Alerts2009-01-01
Circular No. 4 of 2009
The Egyptian Financial Supervisory Authority (EFSA) issued Circular No. 4 of 2009 to follow up on Circular No. 3 regarding the mandatory financial solvency guarantees for companies operating under the same-session trading system. The regulator grants these companies a 15-day deadline to adjust their financial solvency standards to the specified requirements or formally notify the Authority of their decision to cease same-session trading operations. This directive establishes a clear compliance window for firms to either rectify their financial standing or officially withdraw from same-session trading activities.
Egyptian Financial Supervisory Authority
Egyptian Financial Supervisory Authority (EFSA)
Circular Letter No. (4)
Issued on 29/10/2009
In continuation of Circular Letter No. (3) issued by the Authority on 18/10/2009 regarding
addressing the financial guarantee requirement to be maintained at all times to ensure financial solvency
for companies operating under the same-session trading system.
The Authority grants the companies addressed in Circular Letter No. (3) a 15-day deadline to adjust
their financial solvency standards as outlined, or to notify the Authority of their unwillingness to continue
conducting same-session trading activities.
Hesham Ibrahim
Sector Supervisor
Technical Office
Main Address: Smart Village, Building 5 – A 84 B
Km 28 Cairo–Alexandria Desert Road
6th of October Governorate, Postal Code: 12577
Email: info@efsa.gov.eg
Website: www.efsa.gov.eg
Phone: +202 2537 0040
Fax: +202 2537 0041