Regulatory Alerts2010-01-01
Decision of the Chairman of the Authority No. (557) of 2010
The Egyptian Financial Supervisory Authority (EFSA) issued Decision No. 557 of 2010 to streamline the registration and regularization procedures for brokerage branches operating in Egypt. The decision waives experience and exchange trading test requirements for Category (C) executors, permits Category (B) and (C) executors to register for courses pending test completion, and outlines specific conditions for regularizing Category Two Execution Branches and Marketing Branches. It also repeals certain outdated documents from Decision No. 457 of 2010, mandates monthly reporting on internet-based trading activities, and amends the required documentation lists effective the day following its issuance.
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