Egypt’s three clearing and depository companies will need to run their board elections under new rules announced by the Financial Regulatory Authority yesterday. The rules come as executive regulations to enact boardroom guidelines that were originally announced by the authority announced last year. They apply to clearinghouse MCDR and two other companies: One licensed to settle financial trades in the new futures exchange and another that handles clearing and depository for government securities.

What’s in the rules? They set requirements for minimum experience to serve on the board and give an FRA committee a role in screening the candidates for election before a slate is put to a vote in the general assembly. The FRA guidelines issued last year also mandate that the companies have at least two independent directors who don’t necessarily need prior experience in financial services, as well as one woman to their boards. Hit the link for other stipulations.