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 The Capital Market Authority (CMA)
The Capital Market Authority (CMA) was established in the late seventies with the target of organizing and developing the capital market and monitoring the good practices of this market.
Under Law 95/1992 new tasks were added to the CMA; such as information dissemination, inspection over securities companies, supervision over market participants training and law enforcement.
The CMA performs a major role in creating a satisfactory environment to enhance the confidence of capital market investors and ensure that all market participants are performing their due roles.
Strategic Goals
1. Ongoing Development of Regulatory Programs.
2. Organizing & Providing Medium and Long Terms Financial Instruments.
3. Encourage and Strengthen Programs to Develop Investor's Awareness.
4. Ongoing Development of the CMA's Internal Work Systems so as to cope with Market Developments.
5. Effective and Ongoing Development of the Capital Market Infrastructure.
Strategic Objectives
1/1. Developing legislations and legal regulations for the capital market in connection with other economic legislations for the purpose of increasing the efficiency of regulatory programs at CMA.
1/2. Developing the programs of investigation and inspection on market intermediaries.
1/3. Developing the surveillance program.
1/4. Developing the program of surveillance for the Securities Market issues.
1/5. Developing the procedures of surveillance of disclosure of related companies intermediaries.
1/6. Developing regulations and new procedures for inspection of SRO's.
2/1. Evaluating international debt markets in order to develop an organized market for debt in Egypt .
2/2. Organizing securitization activities and having its included among the activities of companies dealing in financial securities.
2/3. Establishing a unit at CMA for licensing and monitoring debt issues.
2/4. Encouraging the activity of developing and publishing indices related to debt instruments.
3/1. Designing national program for developing investor awareness in cooperation with other stakeholders and SRO's.
3/2. Developing specialized training programs for journalists, media community and judges in cooperation with SRO's.
3/3. Participating in preparing circulars and specialized publications for investors, issuers and financial entities in cooperation with SRO's.
3/4. Conducting workshops or seminars 3 times annually, covering issues of interest to members of the financial community (investors relations, corporate governance, securitization, margin trading and bond issuance).
4/1. Developing the organization and administrative structure of the CMA.
4/2. The Continuity of implementing the plan of automating activities and data base at the CMA.
4/3. Preparing and issuing internal work manuals for staff of the CMA and guides for others dealing with the CMA.
4/4. Securing and furnishing an independent building for the CMA.
4/5. Developing a training needs assessment for CMA staff and conducting local and international training.
4/6. Finalizing the preparation of a special study conducted on establishing an Egyptian financial center in cooperation with the Ministry of Foreign Trade.
5/1. Coordinating with the Ministry of Foreign Trade to establish a Directors Center to train the Directors of companies on the principles of corporate governance.
5/2. Developing principles and procedures for organizing the Over-The-Counter market.
5/3. Studying derivatives that could be introduced to the Egyptian Market and which would meet the needs of foreign investors.
5/4. Conduct a study to identify necessary developments required to introduce derivatives to the Egyptian Market (licenses - trading - clearing and settlement - legislations). Other objectives to be added based on the results of the study.
URL: http://www.cma.gov.eg/ |