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.