LEGISLATION WATCH- Council of State review paves way for changes to rules on margin trading, futures exchanges, more: The Council of State (Maglis El Dawla) has completed its review of proposed amendments to the executive regulations for the new Capital Markets Act and is sending them back to the Madbouly Cabinet for approval, Financial Regulatory Authority (FRA) head Mohamed Omran said yesterday. The regulations include provisions that govern the issuing of so-called “green” bonds, sukuks, margin trading, and futures exchanges. The EGX and FRA also agreed to come up with new licenses for brokerage firms to serve as market makers, which would allow them to both buy and sell securities from their own inventory at prices which they have a measure of control over. The tools are part of a four-year strategy to develop Egypt’s non-banking financial sector.

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