News Details
Prohibiting El Orouba Securities Brokerage
06/09/2022
Due to El Orouba Securities Brokerage has repeatedly recorded misleading data in capital adequacy reports which has been sent to Membership system at EGX, The Membership Committee on 04/09/2022 has decided decision No. (95) of 2022 prohibiting El Orouba Securities Brokerage from using the EGX trading systems and the services & facilities offered by EGX, as well as forbidding the existence of any of the company’s employees in the trading room; as a precautionary action starting Monday’s session on 05/09/2022 until the company complies with the terms and provisions mentioned in each of the following:

1. Financial Regulatory Authority Board of Directors Decision No. (14) of 2017 Issued regarding the Liquid Capital Standards.

2. Financial Regulatory Authority Board of Directors Decision No. (67) of 2014 Regulating Margin Trading Transactions Practiced by Brokerage Firms and Custodians.

As the company violated the terms and provisions mentioned in each of the following:

1. Article No. (243) of the Executive Regulations of the Capital Market Law. 

2. Chapter Nine of the Executive Regulations of the Capital Market Law.

3. Financial Regulatory Authority Board of Directors Decision No. (14) of 2017 Issued regarding the Liquid Capital Standards.

4. Financial Regulatory Authority Board of Directors Decision No. (67) of 2014 Regulating Margin Trading Transactions Practiced by Brokerage Firms and Custodians.

5.  Article No. (26) & (27) of EGX Membership Rules regarding Internal Control Systems and Internal Auditing.
 
Article No. (18) of the EGX Membership Rules regarding Material Events.