{"id":573816,"date":"2020-08-18T04:14:24","date_gmt":"2020-08-18T04:14:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/new-guidelines-for-clearing-and-depository-companies-boards\/"},"modified":"2020-08-18T04:14:24","modified_gmt":"2020-08-18T04:14:24","slug":"new-guidelines-for-clearing-and-depository-companies-boards","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/new-guidelines-for-clearing-and-depository-companies-boards\/","title":{"rendered":"New guidelines for clearing and depository companies\u2019 boards"},"content":{"rendered":"

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<\/a>. The guidelines require boards to include at least two independent members and at least one woman; all members will be selected through general assembly elections for three-year terms. The roles of chairman and CEO will need to be held by separate individuals. The FRA will release next week guidelines on ownership structure for clearing and depository companies, authority boss Mohamed Omran said.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 at least one woman; all […]<\/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":[9298],"tags":[2372,5540,72,76,440],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-573816","post","type-post","status-publish","format-standard","hentry","category-banking-finance","tag-banking-finance","tag-central-depository-act","tag-enterpriseam","tag-financial-regulatory-authority","tag-mohamed-omran","wpautop","entry"],"acf":{"mongo_id":"36bf4f10-89b2-4726-9265-24c3a5c406f7","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[573785],"teaser":"","voice_url":""},"yoast_head":"\nNew guidelines for clearing and depository companies\u2019 boards - 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\/2020\/08\/18\/new-guidelines-for-clearing-and-depository-companies-boards\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New guidelines for clearing and depository companies\u2019 boards\" \/>\n<meta property=\"og:description\" content=\"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 at least one woman; all […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/new-guidelines-for-clearing-and-depository-companies-boards\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-18T04:14:24+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\/2020\/08\/18\/new-guidelines-for-clearing-and-depository-companies-boards\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/new-guidelines-for-clearing-and-depository-companies-boards\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"New guidelines for clearing and depository companies\u2019 boards\",\"datePublished\":\"2020-08-18T04:14:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/new-guidelines-for-clearing-and-depository-companies-boards\/\"},\"wordCount\":108,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"BANKING + FINANCE\",\"Central Depository Act\",\"EnterpriseAM\",\"Financial Regulatory Authority\",\"Mohamed Omran\"],\"articleSection\":[\"Banking + Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/new-guidelines-for-clearing-and-depository-companies-boards\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/new-guidelines-for-clearing-and-depository-companies-boards\/\",\"name\":\"New guidelines for clearing and depository companies\u2019 boards - 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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\u2026","rel":"","context":"In "SPEED ROUND: REGULATION WATCH"","block_context":{"text":"SPEED ROUND: REGULATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-regulation-watch\/"},"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":573816,"position":1},"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":599276,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/24\/egypts-market-regulator-drafts-proposed-amendments-to-rules-on-clearing-companies\/","url_meta":{"origin":573816,"position":2},"title":"Egypt\u2019s market regulator drafts proposed amendments to rules on clearing companies","author":"enterpriseam admin","date":"24 June 2019","format":false,"excerpt":"REGULATION WATCH- Market regulator drafting changes to rules on clearing companies: The Financial Regulatory Authority\u2019s (FRA) board of directors agreed last week to put forth proposed amendments to the law governing clearing and depository companies, according to a FRA statement (pdf). 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