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Tuesday, 30 May 2017

EFSA’s new regulations for brokerage firm holdings published in official gazette

EFSA’s new regulations for investment in securities brokerages have gone into effect: The Egyptian Financial Supervisory Authority (EFSA)’s new regulations on investments in brokerage firms were published in the Official Gazette on Monday, Al Shorouk reports. The new rules, which were issued in early May, make it mandatory for the EFSA to approve transactions through which any individual or entity would acquire stakes of 10%, 25%, 33%, 50%, 66%, or 100% in a licensed brokerage. EFSA is presenting the change as being part of its drive to tighten capital market regulation and improve overall transparency.

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