Back to the complete issue
Thursday, 19 April 2018

FRA now has broader power to suspend investors

FRA now has broader power to suspend investors from buying and selling on EGX: Amendments to the Capital Markets Act give the Financial Regulatory Authority (FRA) broader powers to suspend individual investors, according to Sharkawy & Sarhan Law Firm. The chairmen of FRA and the EGX can impose suspension as an administrative penalty directly without the need to obtain a court judgment if they feel an individual investor has violated the act. Changes to the act also allow regulators to impose higher fines pegged to losses arising from whatever offence the broker is alleged to have committed. The tougher sanctions are among nine key takeaways from recent amendments to the Capital Markets Act that the law firm explores in its explainer, which you can check out here.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.