Financial Regulatory Authority Board of Management Decision No. (26) of 2022

FINANCIAL REGULATORY AUTHORITY

Chairman of the Authority

Decision No. (26) of 2022 dated 20/2/2022
Establishing a Dispute Resolution Committee Arising from Securities Market Transactions

Board of Management of the Financial Regulatory Authority Having reviewed the Capital Market Law issued by Law No. (95) of 1992 and its executive regulations; Having reviewed Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments; Having reviewed the Financial Regulatory Authority Board of Management Decision No. (20) of 2019 issuing the Bylaws of the Egyptian Securities Union; And after approval by the Board of Management in its session held on 20/2/2022;

Has decided

(Article One)
A Dispute Resolution Committee Arising from Securities Market Transactions is established, tasked with reviewing disputes arising between companies operating in the securities sector and their clients, as notified to it by the Authority.

(Article Two)
The Committee is formed by a decision of the Chairman of the Authority, presided over by one of the Deputy Chairmen and comprising the President of the Board of Management of the Egyptian Securities Union, along with a number of experienced persons not exceeding seven members. The Committee may appoint such experts as it deems necessary to assist in performing its duties, without them having voting rights. The Committee retains a technical secretariat responsible for preparing meeting agendas, recording meeting minutes, notifying concerned parties of the Committee's decisions, and performing any other related duties.

(Article Three)
The Committee convenes upon invitation by its Chairman, and a quorum is valid only with the presence of a majority of its members. Its decisions are issued by a majority of the attending votes, and in case of a tie, the side supported by the Chairman prevails. In all cases, Committee members must observe conflict of interest avoidance rules when reviewing submitted matters.

(Article Four)
The concerned department within the Authority must provide the Committee with a comprehensive memo regarding the dispute under review. The Committee has the right to contact any parties to the dispute, and they may submit any documents or memos expressing their views.

Smart Village, Building 137, Giza, Egypt
Postal Code: 110
Telephone: +202 3534530
Fax: +202 3537006
WWW.FRA.GOV.EG

Building Bridges not Walls

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FINANCIAL REGULATORY AUTHORITY

Chairman of the Authority

And the Committee must issue its decisions within one month from the date the matter is submitted to it with the required documents. The decision is notified to concerned parties within fifteen days from its issuance date.

(Article Five)
This Decision is published in the Egyptian Gazette and on the websites of the Authority and the Egyptian Stock Exchange, and takes effect from the day following its publication in the Egyptian Gazette.

Chairman of the Board of Management
Dr. Mohamed Omran

Smart Village, Building 137, Giza, Egypt
Postal Code: 110
Telephone: +202 3534530
Fax: +202 3537006
WWW.FRA.GOV.EG

Building Bridges not Walls