{"id":565271,"date":"2021-03-30T14:03:45","date_gmt":"2021-03-30T14:03:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/30\/new-boardroom-rules-for-clearing-depository-service-providers\/"},"modified":"2021-03-30T14:03:45","modified_gmt":"2021-03-30T14:03:45","slug":"new-boardroom-rules-for-clearing-depository-service-providers","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/30\/new-boardroom-rules-for-clearing-depository-service-providers\/","title":{"rendered":"New boardroom rules for clearing, depository service providers"},"content":{"rendered":"

<\/a> Egypt\u2019s three clearing and depository companies will need to run their board elections <\/strong>under new rules<\/strong> announced by the Financial Regulatory Authority<\/a> yesterday. The rules come as executive regulations to enact boardroom guidelines that were originally announced by the authority announced last year. They apply to clearinghouse MCDR and two other companies: One licensed to settle financial trades in the new futures exchange<\/a> and another that handles clearing and depository for government securities.<\/p>\n

What\u2019s in the rules? <\/strong>They set requirements for minimum experience to serve on the board and give an FRA committee a role in screening the candidates for election before a slate is put to a vote in the general assembly. The FRA guidelines issued last year<\/a> also mandate that the companies have at least two independent directors who don\u2019t necessarily need prior experience in financial services, as well as one woman to their boards. Hit the link for other stipulations.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s three clearing and depository companies will need to run their board elections under new rules announced by the Financial Regulatory Authority yesterday. The rules come as executive regulations to enact boardroom guidelines that were originally announced by the authority announced last year. They apply to clearinghouse MCDR and two other companies: One licensed to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[10047],"tags":[633,76,595,871],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565271","post","type-post","status-publish","format-standard","hentry","category-speed-round-regulation-watch","tag-enterprisepm","tag-financial-regulatory-authority","tag-non-banking-financial-services","tag-regulation-watch","wpautop","entry"],"acf":{"mongo_id":"bc39bd64-22e8-47be-bad7-2dc15198bc05","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[565263],"teaser":"","voice_url":""},"yoast_head":"\nNew boardroom rules for clearing, depository service providers - 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\/03\/30\/new-boardroom-rules-for-clearing-depository-service-providers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New boardroom rules for clearing, depository service providers\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s three clearing and depository companies will need to run their board elections under new rules announced by the Financial Regulatory Authority yesterday. The rules come as executive regulations to enact boardroom guidelines that were originally announced by the authority announced last year. They apply to clearinghouse MCDR and two other companies: One licensed to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/30\/new-boardroom-rules-for-clearing-depository-service-providers\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-30T14:03:45+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/30\/new-boardroom-rules-for-clearing-depository-service-providers\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/30\/new-boardroom-rules-for-clearing-depository-service-providers\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"New boardroom rules for clearing, depository service providers\",\"datePublished\":\"2021-03-30T14:03:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/30\/new-boardroom-rules-for-clearing-depository-service-providers\/\"},\"wordCount\":164,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterprisePM\",\"Financial Regulatory Authority\",\"non-banking financial services\",\"regulation watch\"],\"articleSection\":[\"SPEED ROUND: REGULATION WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/30\/new-boardroom-rules-for-clearing-depository-service-providers\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/30\/new-boardroom-rules-for-clearing-depository-service-providers\/\",\"name\":\"New boardroom rules for clearing, depository service providers - 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The proposed amendments include allowing companies to receive licenses\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":573816,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/new-guidelines-for-clearing-and-depository-companies-boards\/","url_meta":{"origin":565271,"position":1},"title":"New guidelines for clearing and depository companies\u2019 boards","author":"enterpriseam admin","date":"18 August 2020","format":false,"excerpt":"Companies licensed to provide clearing and depository services will now be required to elect a board of directors with a minimum of five members and a maximum of nine under new Financial Regulatory Authority (FRA) guidelines issued yesterday. The guidelines require boards to include at least two independent members and\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":593142,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/19\/house-to-include-companies-structure-rules-in-the-central-depository-act-to-avoid-fra-controls\/","url_meta":{"origin":565271,"position":2},"title":"House to include companies\u2019 structure rules in the Central Depository Act to avoid FRA controls","author":"enterpriseam admin","date":"19 November 2019","format":false,"excerpt":"LEGISLATION WATCH- House committee looks set to amend controversial Article 35 in Central Depository Act: The House Economic Committee has informally agreed to amend the controversial Article 35 of the Central Depository and Registration Act to include regulations on companies\u2019 ownership structure, committee member Rep. Mohamed Badrawy told Al Mal.\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\/2020\/1\/662.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594146,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/21\/mps-voice-concerns-over-central-depository-and-registration-act-amendments\/","url_meta":{"origin":565271,"position":3},"title":"MPs voice concerns over Central Depository and Registration Act amendments","author":"enterpriseam admin","date":"21 October 2019","format":false,"excerpt":"LEGISLATION WATCH- MPs voice concerns over Central Depository and Registration Act amendments: Members of the House Economic Committee yesterday voiced concerns that proposed amendments to the Central Depository and Registration Act could have a negative impact on the securities market, Ahram Online reports. What would the proposed amendments do? Amendments\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\/2020\/1\/662.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572948,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/14\/el-sisi-ratifies-amendments-to-egypts-central-depository-act\/","url_meta":{"origin":565271,"position":4},"title":"El Sisi ratifies amendments to Egypt\u2019s Central Depository Act","author":"enterpriseam admin","date":"14 July 2020","format":false,"excerpt":"President Abdel Fattah El Sisi has signed into law recently approved changes to the Central Depository Act, according to a decree published in the Official Gazette. 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