{"id":611594,"date":"2023-12-10T00:00:00","date_gmt":"2023-12-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/10\/fra-rolls-out-new-trading-regs-to-reduce-market-risk\/"},"modified":"2023-12-10T00:00:00","modified_gmt":"2023-12-10T00:00:00","slug":"fra-rolls-out-new-trading-regs-to-reduce-market-risk","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/10\/fra-rolls-out-new-trading-regs-to-reduce-market-risk\/","title":{"rendered":"FRA rolls out new trading regs to reduce market risk"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Attention, brokers and traders:<\/strong> The Financial Regulatory Authority (FRA) has introduced a group of changes <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/32psupy7\" style=\"\" rel=\"noopener\">it says<\/a> aim to cap risk in the system:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The lowdown:<\/strong><\/p>\n<ul>\n<li><strong>Riskier clients will do more KYC: <\/strong>Individual clients will be rated high-, medium-, or low-risk by brokerage firms. The information of high- and medium-risk clients will have to be updated every two years at most, while that of low-risk clients will need to be updated every five years.<\/li>\n<li><strong>Brokerages face a new capital adequacy requirement <\/strong>that demands they have at EGP 15 mn worth of capital, up from EGP 5 mn. Companies have six months to hike their capital and can apply for another six-month extension.<\/li>\n<li><strong>There\u2019s now a lower cap on how much any one client can borrow from a <\/strong><strong>brokerage for margin trading:<\/strong> No individual can account for more than 10% of a brokerage house\u2019s margin trading pool. In cases where a margin client is also trading through vehicles over which they have control, the combined figure goes up to 15%. That\u2019s a 5-percentage-point cut for both categories. <\/li>\n<li><strong>Securities as collateral:<\/strong> The amendments also allow clients to place owned securities as collateral for those they want to buy on margin provided the former are valued at no less than 100% of the securities they want to purchase.<\/li>\n<\/ul>\n<ul>\n<li><strong>Simpler coding procedures for foreign funds<\/strong> are in the pipeline, but the statement doesn\u2019t unpack what those procedures could mean in practice.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The amendments aim to stabilize the market, regulate margin trading, reduce default risks, and protect traders\u2019 rights<\/p>\n","protected":false},"author":1,"featured_media":611595,"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":[8614],"tags":[102,68,72,76,343,871],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-611594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulation-watch","tag-capital-markets","tag-egx","tag-enterpriseam","tag-financial-regulatory-authority","tag-regulation","tag-regulation-watch","wpautop","entry"],"acf":{"mongo_id":"9a9ec8f8-343d-4edf-928a-e48695175cd9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/1153.jpg","photo_position":"above","homepage_title":"","full_issue_title":"FRA rolls out new trading regs to reduce market risk","related_issue":[611587],"teaser":"The amendments aim to stabilize the market, regulate margin trading, reduce default risks, and protect traders\u2019 rights","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.eae06011-a1bf-4094-aa9f-7685c159d258.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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