{"id":558535,"date":"2021-08-16T04:02:01","date_gmt":"2021-08-16T04:02:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/16\/the-egyptian-securities-federation-really-wants-more-members\/"},"modified":"2021-08-16T04:02:01","modified_gmt":"2021-08-16T04:02:01","slug":"the-egyptian-securities-federation-really-wants-more-members","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/16\/the-egyptian-securities-federation-really-wants-more-members\/","title":{"rendered":"The Egyptian Securities Federation really wants more members"},"content":{"rendered":"

The Egyptian <\/strong>Securities Federation<\/strong> (ESF) wants tough new measures to force <\/strong>firms to pony up membership fees<\/strong>:<\/strong> Securities companies could face sanctions if they don\u2019t sign up to the Egyptian Securities Federation under proposals submitted to the Financial Regulatory Authority (FRA) by the organization, Rania Yacoub, a member of the FRA\u2019s advisory committee, tells us. The measures, part of a drive by the ESF to grow its membership, would see the regulator refuse to approve board meeting minutes and reject applications to renew licenses by firms which don\u2019t become members of the organization, she adds.<\/p>\n

LET\u2019S BE CLEAR- The federation \u2260 the Egyptian Capital Market Association (ECMA)<\/strong>, the (much) better-known of the two industry associations<\/a>.<\/p>\n

It\u2019s not clear whether the FRA is taking this seriously:<\/strong> The FRA has yet to look into the ESF\u2019s proposal, Yacoub said. She declined to specify when the measures may come up for discussion.<\/p>\n

Membership is already a requirement for new companies:<\/strong> New brokerage firms, asset managers and financial advisors have to register with the federation to obtain an FRA license, Soliman Nazmy, head of the federation's founding committee, told us.<\/p>\n

The federation has struggled to increase its membership since launching in 2019: <\/strong>Currently, less than half of all licensed securities firms have signed up to the federation even after the FRA slashed membership fees by 60%<\/a> last year. Nazmy told the local press<\/a> last week that it wants more than 50% of FRA-licensed firms to join the organization, increasing the membership to 250-270 companies from 182 currently.<\/p>\n

IN OTHER FRA NEWS-<\/strong><\/p>\n

The FRA is developing a new stress test for non-banking financial services <\/strong>companies<\/strong> alongside the Frankfurt School of Finance, Hapi Journal<\/a> reports. The model will assess sector risks at the macro level<\/strong> rather than testing individual institutions, and will be 80% financed by Sanad Fund.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Egyptian Securities Federation (ESF) wants tough new measures to force firms to pony up membership fees: Securities companies could face sanctions if they don\u2019t sign up to the Egyptian Securities Federation under proposals submitted to the Financial Regulatory Authority (FRA) by the organization, Rania Yacoub, a member of the FRA\u2019s advisory committee, tells us. […]<\/p>\n","protected":false},"author":1,"featured_media":558536,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7303],"tags":[541,102,72,76,595],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558535","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-asset-management","tag-capital-markets","tag-enterpriseam","tag-financial-regulatory-authority","tag-non-banking-financial-services","wpautop","entry"],"acf":{"mongo_id":"44edb945-4040-4d7f-83e7-7dd1972a7eac","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/171.jpg","photo_position":"above","related_issue":[558529],"teaser":"","voice_url":""},"yoast_head":"\nThe Egyptian Securities Federation really wants more members - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/16\/the-egyptian-securities-federation-really-wants-more-members\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Egyptian Securities Federation really wants more members\" \/>\n<meta property=\"og:description\" content=\"The Egyptian Securities Federation (ESF) wants tough new measures to force firms to pony up membership fees: Securities companies could face sanctions if they don\u2019t sign up to the Egyptian Securities Federation under proposals submitted to the Financial Regulatory Authority (FRA) by the organization, Rania Yacoub, a member of the FRA\u2019s advisory committee, tells us. 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The FRA will publish in the coming period the bylaws in the official Gazette, and then set up a committee of at least five\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593546,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/egypts-newly-established-securities-federation-receives-90-membership-requests\/","url_meta":{"origin":558535,"position":1},"title":"Egypt\u2019s newly-established securities federation receives 90 membership requests","author":"enterpriseam admin","date":"1 October 2019","format":false,"excerpt":"Egypt\u2019s Federation for Securities has so far received over 90 membership requests since it was established by the Financial Regulatory Authority (FRA) in March, head of the federation\u2019s establishing committee Soliman Nazmy said yesterday. The committee is waiting for more of the 550 FRA-licensed firms to request membership before organizing\u2026","rel":"","context":"In "Egypt Politics + Economics"","block_context":{"text":"Egypt Politics + Economics","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-politics-economics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":604161,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/27\/the-egyptian-securities-federation-is-finally-a-thing-plus-wheat-talks-air-cairo-madbouly-in-south-africa-fawry-endeavor-and-neptune-energy\/","url_meta":{"origin":558535,"position":2},"title":"The Egyptian Securities Federation is finally a thing. 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Membership levels have so far fallen short of initial targets, the source said, adding that the regulator is looking to encourage more companies\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594617,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/egyptian-market-regulator-grants-cairo-capital-securities-short-selling-license\/","url_meta":{"origin":558535,"position":4},"title":"Egyptian market regulator grants Cairo Capital Securities short selling license","author":"enterpriseam admin","date":"2 September 2019","format":false,"excerpt":"Cairo Capital Securities has joined the growing list of brokerage firms authorized by the Financial Regulatory Authority to short sell, CEO Ahmed Abu Hussein said, according to Al Mal. Shuaa Securities, Arqaam, EFG Hermes, CI Capital, the Arab African International Securities, Prime Holdings, HC Securities, and Premiere Securities have all\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594831,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/09\/companies-to-nominate-one-candidate-to-federation-of-securities-board-fra\/","url_meta":{"origin":558535,"position":5},"title":"Companies to nominate one candidate to Federation of Securities board -FRA","author":"enterpriseam admin","date":"9 September 2019","format":false,"excerpt":"REGULATION WATCH- Companies can only nominate one candidate for the Federation for Securities market regulator: Companies will only be able to nominate one candidate to sit on the board of directors of the Federation for Securities under new regulatory amendments approved by the Financial Regulatory Authority (FRA) yesterday, the regulatorsaid\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558535","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=558535"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558535\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/558529"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/558536"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=558535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=558535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=558535"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=558535"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=558535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}