Regulatory Alerts2020-01-01
Board of Directors Decision No. (47) of 2020 Amending Board Decision No. (11) of 2014 Regarding the Rules for Listing and Delisting Securities on the Egyptian Exchange
The Financial Regulatory Authority (FRA) of Egypt issued Board Decision No. 47 of 2020 to amend its 2014 rules governing the listing and delisting of securities on the Egyptian Exchange. The amendment introduces a new general condition under Article 6 that explicitly prohibits any listed company from combining the roles of Chairman of the Board with those of Managing Director or Chief Executive Officer. This decision was approved on March 22, 2020, and became effective the day after its official publication in the Egyptian Gazette.
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