| For the second time in five years: FRA hosts the annual meeting of the Mediterranean Partnership of Securities Regulators in Cairo – Thursday 23/1/2020 |
| • Dr. Omran: We are targeting a more effective role for the Egyptian Capital Market at the regional and international levels • Dr. Omran: Sustainability and Financial technology tools are top priorities for the Mediterranean Securities RegulatorsDr. Mohammed Omran – FRA’s Chairman inaugurated the annual meeting of the Mediterranean Partnership of Securities Regulators in Cairo for the second time in five years. The meeting was held over two days and attended by members of the Mediterranean Partnership of Securities Regulators including Egypt, Algeria, Tunisia, and Morocco, in addition to Spain, Portugal, Greece, Italy, France, and Turkey.Dr. Omran revealed that the opening session of the meeting witnessed a discussion of the most important developments occurred in the capital markets of the member states during the past year. In addition, the meeting presented the latest regulations introduced by the international organizations to activate financial markets operations and implement the recommendations of the Group of Twenty (G20) and the Financial Stability Board (FSB) in this regard. On the other hand, members of the European Union informed the remaining members of the Mediterranean Partnership of the consequences of Britain’s exit from the European Union, or what is known as the Brexit, and the measures adopted within the European Union to enhance data protection.Moreover, the activities of the first day tackled the organizational differences between member states at the level of the three pillars on which the partnership is based, namely regulating investment funds, availability of information on capital markets and fighting market manipulation. FRA’s Chairman added that the meeting’s second day included a seminar that displayed bilateral intervention by the European Union and the European Securities and Markets Authority (ESMA) in certain cases pursuant to the Capital Market’s regulatory frameworks. Also, a discussion was opened on the differences in financial contracts and setting comparison of their systems in a number of member states. Moreover, the meeting tackled promoting alternative markets for small and medium-sized enterprises through presenting the views of member states, especially the southern Mediterranean (Morocco and Egypt) and shedding light on sustainable financing initiatives in both Egypt and Morocco. This event is part of FRA’s efforts to highlight the regional role of the Egyptian Capital Market. Also, such events confirm Egypt’s participation in international financial forums. It is worth mentioning that Cairo will host the annual meetings of the “most promising and emerging markets committee” which is one of the most important and largest committees in the IOSCO with the participation of leaders and officials from 40 regulatory bodies from all over the world in the last quarter of this year. |
http://www.fra.gov.eg/content/efsa_en/efsa_news_en/efsa_843_en.htm
