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Tuesday, 2 October 2018

You no longer have to get FRA or EGX approval on stock splits

REGULATION WATCH- You no longer have to get FRA or EGX approval on stock splits: The Financial Regulatory Authority (FRA) will reportedly scrap a rule that requires listed companies to seek approval from the FRA and the EGX for stock splits, AMAY reports. Boards much presently seek regulatory approval, including filing notice of the decision and explanations for why the split is necessary. Companies will still have to file notice to the regulator and the exchange when the measure is enacted.

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