Aggregated News From Investment Management Regulators

Regulating the role of Misr for Central Clearing, Depository and Registry (MCDR) upon providing the listed companies with any data or information

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With reference to the role entrusted to the Financial Regulatory Authority (FRA) pursuant to the provisions of Law No. 10 of 2009 to regulate  non-banking financial markets , enhance its integrity  and stability and issue the rules to ensure the efficiency of these markets, and as FRA is keen on protecting dealers’ rights  in the stock market and maintain confidentiality of their  transactions which has a positive impact on the confidence of dealers in these markets and increase the volume of transactions, and as FRA  prevents the exploitation of data and information related to transactions in the stock market,

The Authority issued decision no. (139) of 2018 on regulating the role of Misr for Central Clearing, Depository and Registry (MCDR) upon providing the listed companies with any information or data.

The decision prohibits Misr for Central Clearing, Depository and Registry (MCDR) from providing any data or information related to transactions executed on securities listed at the Egyptian Stock Exchange or other securities deposited by the Central Depository System.  Also, the said decision stated that Misr for Central Clearing, Depository and Registry (MCDR) shall amend the procedures set in this regard to comply with the provisions of this decision.

In addition, the decision allows the listed companies and other companies whose securities are listed by the Central Depository System to obtain data and information regarding the structure of shareholders or owners of their securities from the MCDR once a month and the same is applied on the cases stated in the decision. The decision added that the data to be provided to the companies shall be limited to the name of the shareholder or the owner of the security, his nationality, address, balance and percentage of shares or securities owned by him.

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Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

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