Cairo, April 15, 2018 – The Financial Regulatory Authority (FRA) has licensed securities brokerages to receive subscription in certificates of mutual funds. According to the new FRA decree, the securities companies should handle at least one of the following transactions: underwriting, incorporation of securitisation firms, clearing, settlement, equities and bonds brokerage. "The move marks the beginning of implanting the amended Capital Market Law No. 17/2018. The amended entrusts FRA with licensing securities brokerages to handle underwriting transactions," Mohamed Omran, the head of FRA, said in a statement carried by the official Middle East News Agency (MENA) on Sunday.