RegAlert2022-11-30
Added · Updated
Decision of the Board of Directors of the Financial Regulatory Authority No. 169 of 2022
The Financial Regulatory Authority issued Decision No. 169 of 2022 to voluntarily suspend the trading activities of Horus for Securities Trading Company for one year, effective from the decision's issuance date. The suspended company must deposit clients' due balances into the Investor Protection Fund, submit a detailed statement of client names and corresponding balances, and retain the right to provide supporting documents upon client claims. This decision is published on the stock exchange screens and the Authority's website, taking effect the day after issuance, with all relevant authorities mandated to implement their respective obligations.
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Financial Regulatory Authority
FINANCIAL REGULATORY AUTHORITY
Decision of the Board of Directors of the Financial Regulatory Authority
No. (169) for 2022 dated 30/11/2022
Regarding the Voluntary Suspension of the Activity of Horus for Securities Trading Company
Board of Directors of the Financial Regulatory Authority
Having reviewed the Capital Market Law issued by Law No. (90) of 1992; and the Law No. 10 of 2009 regarding the regulation of supervision over non-banking financial markets and instruments; and the Presidential Decision No. 192 of 2009 regarding the Statute of the Financial Regulatory Authority; and the Board Decision No. (194) of 2018 regarding the conditions and controls for the voluntary suspension of activities of companies operating in the securities field and its amendments; and the General Assembly Decision of the Company held on 14/2/2021 to voluntarily suspend the company's activity for one year; and the Memorandum issued by the Central Department of Corporate Governance dated 20/11/2022; and the approval of the Board of Directors in its session held on 30/11/2022.
Decision
(Article One)
The activity of Horus for Securities Trading Company is voluntarily suspended for one year, effective from the date of issuance of the Board's decision, in accordance with Article 33 of the Capital Market Law issued by Law No. 90 of 1992.
(Article Two)
The Company is obligated to deposit the amount corresponding to clients' due balances with the Investor Protection Fund, accompanied by a statement of these clients' names and their respective due balances, while retaining the right to submit any data or documents regarding any client upon the client's claim for their dues.
(Article Three)
This Decision shall be published on the stock exchange's announcement screens and the Authority's website, and shall take effect from the day following its issuance. The concerned authorities are tasked with implementing it according to their respective jurisdictions.
Chairman of the Board
Financial Regulatory Authority
Dr. Mohamed Fared Saleh
Financial Regulatory Authority
FINANCIAL REGULATORY AUTHORITY
El-Zeraiya, Building 137, El-Giza, Egypt
Postal Code: 110
Telephone: +2023054070
Fax: +20230370036
WWW.FRA.GOV.EG
ARAB REPUBLIC OF EGYPT
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Lineage: In force
Source: Financial Regulatory Authority Egypt — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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