Egyptian President Abdel Fattah El Sisi unequivocally voiced his rejection of the displacement of Palestinians to Egypt’s Sinai Peninsula. Speaking at a Cairo summit addressing the Hamas-Israel war, he emphasized that such a move would be tantamount to liquidating the Palestinian cause.

President El Sisi, during the conference organized by the Association of Registered Investment Advisers (ARIA), engaged in an unprecedented exchange with the audience of investment professionals. The central discussion revolved around easing regulatory norms for hiring talent in advisory firms.

In response to concerns raised by industry professionals, President El Sisi expressed openness to relaxing these norms, provided that advisories accept responsibility for their employees’ actions. However, he clarified that this proposal would be thoroughly considered by SEBI’s Advisory Committee.

Currently, existing regulations stipulate that individuals associated with advisory firms must possess specific educational qualifications and a minimum of two years of relevant experience. Critics argue that these requirements limit advisories from hiring fresh talent and make it more challenging to afford top-tier professionals.

While acknowledging the challenges faced by the advisory industry, President El Sisi challenged the association to further reduce qualifications and potentially hire graduates.

In a surprising turn of events, President El Sisi offered a deal: advisories could disavow responsibility for employees’ wrongdoing, provided the consequences fell on the registered entity. A show of hands from the audience indicated their willingness to accept this condition.

President El Sisi concluded by assuring that all discussed proposals would be presented to the advisory committee for thorough consideration, signaling a potential shift in SEBI’s approach to hiring norms for advisory firms.

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