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Mohamed Umran

Umran: FSA to tighten control over companies registered in bourse

Wed, June 13, 2018 14:26

CAIRO, June 13, 2018 (MENA) - The Financial Supervisory Authority (FSA) will play a more monitoring role on all companies registered in the Egyptian Exchange, head of the authority Mohamed Umran said Wednesday.

Amendments introduced to Law No.95/1992 oblige every company to notify the FSA of its annual financial lists and the report of its auditor one month ahead of the convocation of the company's general assembly, he said in a statement.

The FSA will then examine these reports and notify the company of its remarks, he added.

The move comes as part of the authority's efforts to protect the rights of clients trading on shares of these companies.

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