Regulatory Alerts2018-01-01
Law No. 17 of 2018 Amending Certain Provisions of the Capital Market Law Issued by Law No. 95 of 1992
The Egyptian Parliament enacted Law No. 17 of 2018 to amend the Capital Market Law (Law No. 95 of 1992), mandating that all public offerings of securities require an Authority-approved prospectus and standardized disclosure formats. The legislation establishes strict governance, licensing, and operational rules for stock exchanges, investment funds, and brokerage activities while introducing a special non-commercial risk insurance fund for market participants. It significantly expands criminal and administrative penalties for market abuses, including unlicensed operations, fraudulent disclosures, market manipulation, and failure to execute mandatory takeover bids, with fines reaching twenty million pounds and imprisonment up to five years.
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