EFSA ratifies new amendments for managing financial securities
Sharif Samy - YOUM7/Hassan Muhammed

CAIRO: The Egyptian Financial Supervisory Authority ruled Wednesday that stock brokerage companies  may not deal in unregistered securities on the Egyptian Stock Exchange for their foreign or domestic clients.

The decision will allow brokerages to manage the foreign securities for their non-resident foreign clients in Egypt, contingent upon approval by the EFSA, authority head Dr. Sharif Sami told Youm7.

Sami added that the new regulations will allow Egyptian financial securities companies to manage their foreign clients’ securities, meanwhile it prevents such institutions to deal in foreign shares on the EGX.

Originally published in Youm7.

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