{"id":600410,"date":"2019-01-29T04:26:26","date_gmt":"2019-01-29T04:26:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/29\/fra-modifies-board-members-criminal-record-rules\/"},"modified":"2019-01-29T04:26:26","modified_gmt":"2019-01-29T04:26:26","slug":"fra-modifies-board-members-criminal-record-rules","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/29\/fra-modifies-board-members-criminal-record-rules\/","title":{"rendered":"FRA modifies board members criminal record rules"},"content":{"rendered":"

REGULATION WATCH- FRA amends rules on board members with criminal records; gives leasing and factoring companies six months to conform with new law. <\/b>Companies regulated by the Financial Regulatory Authority have new rules governing board members with criminal records, Al Mal reports<\/a>. Board members with criminal convictions may must now meet a separate definition of good character rather than simply needing to wait three years after serving a sentence before being allowed to take a board seat. The FRA also scrapped a ban on board memberships for individuals with repeat convictions; they will instead be allowed to apply for rehabilitation in the eyes of the regulator, giving them a potential path back to the boardroom.<\/p>\n

Also yesterday: <\/b>The FRA also gave leasing and factoring companies six months to conform with the recently issued law<\/a>. Companies wanting more time need to inform the regulator by end of March, the FRA said in a statement<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

REGULATION WATCH- FRA amends rules on board members with criminal records; gives leasing and factoring companies six months to conform with new law. Companies regulated by the Financial Regulatory Authority have new rules governing board members with criminal records, Al Mal reports. Board members with criminal convictions may must now meet a separate definition of […]<\/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":[8572],"tags":[72,76,2517,180,595,343,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-600410","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-financial-regulatory-authority","tag-governance","tag-legislation","tag-non-banking-financial-services","tag-regulation","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"1128419b-f9d9-4d38-a399-94597009ee93","is_powered_by":true,"section_story_id":"af3b07f8-e0ea-436d-911d-ddd6ee9e03c1","story_type":"1","photo_url":"","photo_position":"above","related_issue":[600394],"teaser":"","voice_url":""},"yoast_head":"\nFRA modifies board members criminal record rules - 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\/2019\/01\/29\/fra-modifies-board-members-criminal-record-rules\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FRA modifies board members criminal record rules\" \/>\n<meta property=\"og:description\" content=\"REGULATION WATCH- FRA amends rules on board members with criminal records; gives leasing and factoring companies six months to conform with new law. 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The decision applies to both listed companies and to non-bank financial services outfits regulated by FRA.","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":628185,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/27\/fraudsters-individuals-with-history-of-regulatory-violations-to-face-restrictions-sitting-on-public-company-and-nbfi-boards\/","url_meta":{"origin":600410,"position":1},"title":"Fraudsters, individuals with history of regulatory violations to face restrictions sitting on public company and NBFI boards","author":"enterpriseam admin","date":"27 June 2018","format":false,"excerpt":"REGULATION WATCH- From the Department of Common Sense: Convicted fraudsters and those with histories of regulatory violations will face extra scrutiny before being allowed to sit on the boards of companies over which the Financial Regulatory Authority (FRA) has oversight, Al Mal reports, citing regulatory changes passed by the FRA.\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":600298,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/27\/beltone-en-route-to-lose-appeal-against-egypts-fra\/","url_meta":{"origin":600410,"position":2},"title":"Beltone en route to lose appeal against Egypt\u2019s FRA","author":"enterpriseam admin","date":"27 January 2019","format":false,"excerpt":"Advisory body reportedly recommends court turn down Beltone\u2019s appeal of its suspension. The Administrative Court received yesterday a report from the Board of State Commissioners recommending it reject Beltone\u2019s appeal a suspension handed to the investment bank\u2019s IPO unit by the Financial Regulatory Authority, reports Al Shorouk. 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