Regulatory Alerts2002-01-01
Ministry of Finance Decision No. 480 of 2002
The Egyptian Ministry of Finance issued Decision No. 480 of 2002 to formally establish and regulate the Primary Dealers system for government securities. The decree mandates that only approved banks and securities brokerage firms may serve as Primary Dealers, requiring them to underwrite primary issuances, stimulate secondary market trading, and maintain transparent open-market operations without charging commissions. It further outlines the dealers' obligations to submit regular trading reports, propose market efficiency rules, and comply with regulatory standards subject to cancellation by the Minister of Finance for non-compliance.
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