FRA grants Elite Financial first financial advisor license since introducing new regs

The Financial Regulatory Authority has granted Elite Financial Consultancy the first license as an independent financial advisor since introducing new licensing regulations, deputy chairman Seif Eldin Awny told the local press. The company plans to offer a range of services targeted mainly at SMEs, including fair share value studies, restructuring, consultations, due diligence, and fundraising. Under the 2018 regulations, companies are required to renew their registration every three years. Companies will be removed from the registry and risk losing their operating licenses if they are found to be in violation of any laws.