Regulatory Alerts2006-01-01
Investment Minister Decision No. 141 of 2006 Adding a New Chapter to the Executive Regulations of the Capital Market Law
The Egyptian Minister of Investment issued Decision No. 141 of 2006 to add Chapter Eleven to the Executive Regulations of the Capital Market Law, establishing comprehensive rules prohibiting price manipulation and the exploitation of insider information. The regulation defines key terms such as price manipulation, material information, insider information, insiders, insider traders, and affiliated groups, while explicitly voiding any corporate clauses that exempt employees or directors from liability for violations. It enumerates fifteen specific prohibited market manipulation tactics, bans insiders from trading or disclosing confidential material information for personal gain, and mandates strict accuracy and prompt disclosure obligations for issuing companies and their legal representatives.