Regulatory Alerts2020-01-01
Circular Letter No. 6 of 2020 on Immediate Notification to the Authority Upon Licensed Companies Being Assigned Financial Valuation and Fair Value Determination Studies
The Financial Regulatory Authority (FRA) of Egypt mandates that licensed financial valuation firms must immediately notify the Authority upon accepting any assignment to conduct financial valuations or prepare fair value determination studies. This obligation covers all scenarios under Capital Market Law No. 95 of 1992, its Executive Regulations, Egyptian Exchange listing and delisting rules, and FRA Board Decision No. 1 of 2017. Firms must submit assignment documentation and evidence of neutrality and independence prior to commencing work to enable regulatory verification of the appointed advisor's independence.
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