Aggregated News From Investment Management Regulators

EFSA Launches the Automated Calling System for Market Services


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In the framework of EFSA’s efforts to facilitate dealings with its clients, Dr. Mohammad Omran, (EFSA Acting Chairman), and Counselor – Reda Abd Elmoti Vice Chairman, gave a signal to launch the automated calling system for clients of the Central Department for Market Services. .

Omran explained that this new system will facilitate dealings with the clients and help them to finish the procedures and obtain all the necessary approvals and licenses easily. He added that a number of windows have been allocated to deal with the clients in order to receive and review documents and requests submitted to EFSA regarding establishing a company  or obtaining a license to  practice activities in (insurance companies, private insurance funds, securities companies, mortgage finance companies, financial leasing companies and factoring that is in light of the provisions of the laws.

Also, clients can submit documents related to the invitations of Ordinary and Extraordinary General Assemblies, approving minutes of General Assemblies, adoption of minutes of  companies’ boards of directors,. That is besides , receiving requests for transfers of shares, requests for transactions of board members and their relatives in the stock market , requests for capital increase or adjusting the nominal value of the shares in addition to public and private prospectus. As well as documents related to labor union shareholders and documents of the financial leasing contracts (purchase agreement, termination agreement and waiver) all these shall be revised in accordance with the provisions of the law and its Executive Regulations.

Omran noted that the Authority will continue to seek permanent development that serves its clients and leads to rapid completion of the work.

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Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

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