FRA completes amendments to law governing EIPF

LEGISLATION WATCH- FRA completes amendments to law governing EIPF: The Financial Regulatory Authority (FRA) has completed amendments to the law governing the Egyptian Investor Protection Fund (EIPF) and sent them over to the Madbouly Cabinet for review, FRA boss Mohamed Omran said yesterday, Al Mal reports. The amendments are expected to expand the scope of the EIPF’s coverage, he added without elaborating. FRA Deputy Chairman Khaled el Nashar had said last month that the fund would be expanded to cover stock market losses resulting from fraud, and also the appointment of an independent financial advisor for companies facing mandatory or voluntary delisting, or conducting fair value assessments.