EGX Meets With Compliance Officers & Financial Managers Of Brokerage Firms

In line with The Egyptian Exchange's (EGX) strategy to foster effective community dialogue regarding the latest developments, EGX met with compliance officers, followed by the financial managers and solvency officers of brokerage firms, on Tuesday and Wednesday, October 29th and 30th, 2024.
 
Ahmed El Sheikh, EGX’s Chairman, stated that this meeting aligns with the EGX’s strategy to communicate effectively with its members in order to enhance cooperation and to boost constructive work with all capital market parties to improve its efficiency. He added: We are committed to presenting the latest developments and addressing any challenges that member companies may face to drive the Egyptian capital market towards greater growth and stability.
 
The number of brokerage firm participating on the first day reached (108). The session included discussions the most important developments related to the role of the compliance officer in ensuring the integrity of operations and the company's adherence to the legislative laws governing trading on EGX. Additionally, the discussions covered the analysis of potential risks and provided recommendations for mitigating them as well as, the development of internal policies and procedures to ensure the integrity of the procedures in place, which results in enhancing confidence and minimizing errors or manipulations.

The second day witnessed the attendance of (110) brokerage firms. The discussions focused on the key developments related to the pivotal role of the financial manager in terms of liquidity management and ensuring the availability of sufficient funds to meet the company’s needs and customer requirements. Also, developing financial strategies that ensure the company’s compliance with the governing laws, especially the rules of financial solvency, as well as analyzing and evaluating the financial risks associated with the company’s activities, especially specialized activities, and their impact on the company’s financial solvency. Furthermore, strategies to mitigate aforementioned risks were developed to ensure the company’s success and sustainability in the market.