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Preparing an updated version of the Executive Regulations of Capital Market Law

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• Dr. Omran: Efforts were exerted to compile and update the provisions of the Capital Market Regulations in order to raise investment awareness and facilitate introduction of new financing tools and anti-fraud mechanisms.

Based on the principle of providing information on sound trading mechanism in the Egyptian Capital Market, the rules and procedures governing this market and facilitating access to them to make sound investment decisions, Dr. Mohammed Omran, FRA’s Chairman revealed that the Authority has prepared an updated version of the Executive Regulations of Capital Market Law. He added that information is an indispensable necessity for securities market participants, relevant parties from companies operating in the field of securities as well as listed and unlisted companies.

FRA’s Chairman stated that due to the dynamic nature of the Capital Market and its tendency for continuous change to keep abreast of the tremendous progress in information and data discovery, while ensuring transparency and disclosure in transactions held on various financing tools (shares, bonds, sukuk) , there was an urgent and continuous need to compile all the amendments to the provisions of the Executive Regulations of  Capital Market Law no. (95) of 1992 and the subsequent executive decisions related to the regulator,

It was therefore important to compile all the amendments to the Executive Regulations of Capital Market Law  to be available for  the market’s dealers. The amendments were set in an updated and clear manner to facilitate the process of tracking and proper application wich is sticking to the provisions and rules in force.

Dr. Omran explained said that the updated version of the Executive Regulations of Capital Market Law – published on the Authority’s website – represents a practical translation of the FRA’s intention to “transfer the capital market activity to its desired place in Egypt’s Vision 2030”.  He added that comprehensive amendments were held to enhance the efficiency and depth of the Egyptian Capital Market.    New financial institutions and tools were introduced to increase the attractiveness of the Capital Market and make it compatible with “the best international applications related to the legislations and regulatory rules governing the Capital Market.

Also, Dr. Omran added that the updated version of the Executive Regulations of Capital Market Law includes – what has been existed and valid since 25 years – and ended with the major amendments to the Executive Regulations of November 2018 and issued by Ministerial decree no. 2479 of 2018. He stated that this updated version will be the legislative reference to all amendments and provisions that have been in force since the promulgation of the Executive Regulations of Capital Market Law in 1993 ending with the amendments made by the end of 2018. He noted that this process will raise awareness of dealers’ rights and duties and thus, achieving the safety and stability of these markets and instruments and facilitating the introduction of new financing tools and anti-fraud mechanisms.

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Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

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