Aggregated News From Investment Management Regulators

Six days after the issuance of the first license: FRA grants short selling license to four companies


Please complete the required fields.

As part of the efforts to increase liquidity on the Egyptian Stock Market, Dr. Mohammed Omran, FRA’s Chairman decided to grant short selling license to the following companies:

– EFG Hermes Securities Brokerage
– Financial Brokerage Group (FBG)
– Commercial International Brokerage company (CIBC)
– Arab African International Securities (AAIS)

That is in accordance with the provisions of FRA’s BOD decision no. 268 of 2019 issued in February to regulate short selling mechanism.

Short selling is a transaction in which the seller does not actually own the stock that is being sold but borrows it from the broker-dealer through which he or she is placing the sell order. The seller then has the obligation to buy back the stock at some point in the future, thereby making profits from the difference in selling prices and purchasing prices. It is worth noting that the Authority has already granted the first short selling license last week.

Source link

Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

Recent Articles

Mark Reinhold Named SEC Chief Human Capital Officer

The Securities and Exchange Commission today announced that Mark D. Reinhold has been named the agency’s Chief Human Capital Officer and Director of the Office of Human Resources.

SEC Charges Three Executives at U.S. Navy Shipbuilder Austal USA with Accounting Fraud

The Securities and Exchange Commission today charged three executives of Mobile, Alabama-based shipbuilder, Austal USA LLC, for orchestrating a fraudulent revenue recognition scheme that allowed its

SEC Awards More Than $12 Million to Two Whistleblowers

The Securities and Exchange Commission today announced awards of more than $12 million to two whistleblowers who provided information and assistance in a successful SEC enforcement action.

SEC to Host Municipal Securities Disclosure Conference

The Securities and Exchange Commission today opened public registration for its Municipal Securities Disclosure Conference, which will be held on May 10, 2023, at the SEC’s headquarters.

Get the latest from Regulatory.News in your inbox!