{"id":643885,"date":"2024-09-17T00:00:00","date_gmt":"2024-09-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/17\/fra-updates-ma-rules-for-nbfis\/"},"modified":"2024-09-17T00:00:00","modified_gmt":"2024-09-17T00:00:00","slug":"fra-updates-ma-rules-for-nbfis","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/17\/fra-updates-ma-rules-for-nbfis\/","title":{"rendered":"FRA updates M&A rules for NBFIs"},"content":{"rendered":"

Fresh regulations for M&As in the NBFIs sphere: <\/strong>The Financial regulatory Authority (FRA) has updated the regulations that govern mergers and acquisitions of non-banking financial institutions in a move aimed at enhancing competitiveness and streamlining the approval process, according to a statement<\/a>. <\/p>\n

Among the key changes:<\/strong> Under the new rules, mergers and acquisitions of NBFIs will only need to go through the FRA board if they end up giving the buyer a controlling stake in the market. Otherwise, the transaction can go through without the board\u2019s approval. <\/p>\n

If one NBFI wants to merge with another <\/strong>and the acquisition will give them market control, the board\u2019s approval will also be necessary. The FRA will publish a M&A notice allowing for a 15-day public comment period for affected parties.<\/p>\n

SOUND SMART-<\/strong> The regulator defines a controlling stake in the market as anything above the 10% mark. <\/p>\n

Ins. <\/strong>companies<\/strong> get a special treatment:<\/strong> The FRA board approval remains mandatory for all M&A activity that involves acquiring an ins. or reins. firm. The authority\u2019s approval will also be required if the buyer ups their stake to exceed one of a number of predetermined thresholds \u2014 between 10-90%. <\/p>\n

Keeping taps on market dominance:<\/strong> The regulator will closely monitor any actions that could lead to a single entity or a related group controlling 10% or more of any non-banking financial activity\u2019s market share to maintain balance and fair competition in the market. <\/p>\n

The timelines: <\/strong>The FRA will have 45 days to either approve or reject any M&A requests. Approvals will be valid for a six-month period after that they will need to be extended or deemed void. <\/p>\n

The end goal:<\/strong> The authority is working to facilitate business growth and create a more investment-friendly environment to attract more investments in the NBFIs by simplifying procedures while maintaining the required oversight. <\/p>\n","protected":false},"excerpt":{"rendered":"

The amendments aim to enhance competitiveness and streamline the approval process<\/p>\n","protected":false},"author":1,"featured_media":643886,"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":[72,76,595,343,871],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-643885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulation-watch","tag-enterpriseam","tag-financial-regulatory-authority","tag-non-banking-financial-services","tag-regulation","tag-regulation-watch","wpautop","entry"],"acf":{"mongo_id":"fad9a340-2bc1-411b-be40-a36c77042c0c","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1251.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s FRA updates M&A rules for NBFIs","related_issue":[643872],"teaser":"The amendments aim to enhance competitiveness and streamline the approval process","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.7638e822-67b8-492a-8447-72052bde9a2a.mp3"},"yoast_head":"\nFRA updates M&A rules for NBFIs - 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