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Egypt investigates investor bourse allegations

15 July 2010

The head of Egypt's financial regulator and the former chairman of the bourse are being investigated to determine whether they broke the law, following complaints by investors, Reuters has reported. A complaint was filed on behalf of several investors against Ziad Bahaa El Din, chief of Egyptian Financial Supervisory Authority (Efsa) and the former stock exchange head Maged Shawky, the public prosecutor said in a statement. "The prosecution has asked for information from some specialised authorities about what the complaint contained to find out if there were legal violations or not," the prosecution said.

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