Egypt’s Regulator Receives 84 Complaints against Securities Firms in Q2

Egypt’s financial regulator – the Egyptian Financial Supervisory Authority said it has received around 84 new complaints against securities firms during the second quarter of 2013. Accordingly, the total number of complaints received by the EFSA has upped to 151.

The EFSA said 87 complaints were studied in Q2/13, while 64 others are still under study.

The complaints during Q2/13 were about the blank sale and purchase orders through the intermediary obtaining finance from him in amounts exceeding the investor’s financial capability. EFSA noted that 31 complaints been handled which are equivalent to 36% of the total number of complaints reviewed.