Regulatory Alerts2023-01-01
Capital Market Authority Board Decision No. 51 of 2023 on Registration and Deregistration Conditions for Precious Metals Custody Service Providers
The Capital Market Authority issued Board Decision No. 51 of 2023 to establish a dedicated register for precious metals custody service providers and define their registration, renewal, and deregistration conditions. The Decision mandates that registered entities meet specific legal, technical, and insurance requirements while maintaining segregated accounts, avoiding conflicts of interest, and paying a fixed twenty-five thousand Egyptian pound fee. It grants the Authority the power to conduct field inspections, issue compliance notices, and temporarily suspend registrations for up to one year if conditions are not met.
Share