EGX boss Omran granted powers to suspend brokers for up to a month: The EGX board approved on Sunday granting EGX Chairman Mohamed Omran the power to suspend brokers suspected of market manipulation for up to one month, Omran tells Al Shorouk. Omran’s justification was that suspending trading alone would not be enough and was not efficient. He added that those suspended could file grievances to the Egyptian Financial Supervisory Authority (EFSA), which would then investigate the matter. Omran threw cold water on questions that this had anything to do with the Beltone stock manipulation saga, stating that the move was part of a wider effort to curb market manipulation and not in response to a single incident. His statement, coming only a week after EFSA filed a case against Beltone shareholders with the Administrative Court and almost a year of suspending trades on Beltone shares, needs to be a little more convincing.

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