الهيئة العامة للرقابة المالية

• FRA conducted a 10-day training program with the Financial Services Authority of Oman. The program focused on trading control, trading mechanisms, and disclosure requirements.

A delegation from FRA shared Egypt’s experience in stock market surveillance, various trading mechanisms and disclosure requirements with the Financial Services Authority of Oman. The 10-day training program concluded on Wednesday, October 23, involved technical teams from both authorities. Mohamed Sabri, Assistant to FRA Chairman, led FRA delegation. This delegation included Israa Omar, Marwa Al Amir, Amir Al Faki, and Mohamed Gad El-Rab from Capital Markets Surveillance Sector.

The bilateral memorandum of understanding between FRA and the Financial Services Authority of Oman seeks to enhance cooperation and knowledge sharing in the field of capital market regulation. Through a training program, Egyptian experts will provide Omani counterparts with insights into Egypt’s regulatory framework, disclosure requirements, trading surveillance systems and international best practices. The ultimate goal is to help Oman improve its regulatory performance, conduct comparative studies and adopt best practices from Egypt’s experience.

The training program offers a comprehensive overview of the disclosure process on the Stock Exchange, ensuring compliance with international standards set by the IOSCO. It covers the initial steps of listing companies, emphasizes the importance of sustainability-related disclosures, and addresses specific disclosure requirements for mergers, acquisitions, offers and other corporate actions.

In June 2023, FRA conducted a virtual training program for employees of the Financial Services Authority of Oman. The three-day program focused on sharing Egypt’s expertise in capital  market surveillance , covering topics such as planning mechanisms to effectively regulate the market, specific number of entities falling under FRA’s supervision and outlined which entities require annual reviews. It further explored the methodologies employed in both on-site and off-site audits. Additionally, the training covered procedures for assessing corporate disclosures, including routine financial reports and significant events. Finally, participants gained insights into types of penalties that can be imposed and factors considered in determining the severity of disciplinary actions.

Following this, a training program was conducted in November in Salalah, Oman, targeting Omani financial regulators. This program, organized in collaboration with the Insurance Federation of Egypt “IFE”, aimed to provide comprehensive knowledge on engineering insurance. Topics covered included various types of engineering insurance, associated risks and losses, types of policies and coverages, additional coverages and exclusions, overlaps with other insurance types, and the evolution of engineering insurance markets