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Title: Resolution No. (3) of 2015 Regarding Amending the CMA Board of Commissioners Resolution No. (19) of 2013 Regarding the Issuance of the Fee Schedule
Date Publish
25 October 2015
Resolution No. (3) of 2015
Regarding
Amending the CMA Board of Commissioners
Resolution No. (19) of 2013 Regarding the Issuance of the Fee Schedule
Having Perused:
- Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, and the Executive Bylaws, as amended; and
- CMA Board of Commissioners Resolution No. (19) of 2013 issued on 1/5/2013 regarding the issuance of the fees schedule, as amended by the CMA Resolutions No. (22) of 2013 issued on 29/5/2013 and No. (18) of 2014 issued on 6/4/2014 and No. (65) of 2014 issued on 16/12/2014; and
- Based on the CMA Board of Commissioners Resolution passed in its meeting No. (1) of 2015 held on 6/1/2015 regarding the amendments of the fees schedule.
The Following Was Resolved
Article (1): Article No. (30) of the Fees Schedule No. (19) of 2013 and its amendments, is hereby amended to be as follows:
|
Fees |
Amount (KD) |
Maturity |
|
Fees of applying for acquisition offers
|
KD 10,000 |
Paid Upon submitting the acquisition application offer to the CMA |
|
0.001% of the value of the transaction, not exceeding KD 250,000 |
After collecting the shares by the acquisition deal manager, and when submitting an approval request for executing the deal |
Article (2): The phrase mentioned in the margin of the fees schedule of Item No. (30) is hereby amended by replacing the phrase "The fees of executing the acquisition and merger deals shall be distributed as follows" – mentioned below the fees schedule – with the phrase "The fees of executing the acquisition deals shall be distributed as follows"
Article (3): The CMA fees schedule shall be attached with this Resolution, including all the amendments.
Article (4): The concerned bodies shall execute this Resolution, each within its own capacity. This Resolution shall come into force from the date of its issuance.
Nayef Falah Al-Hajraf
Chairman, CMA Board of Commissioners
Issued on 14 / 1 / 2015
CMA Fees Schedule
|
Sr. |
Fees |
Amount (KD) |
Maturity |
|
|
Request of listing securities of both Kuwaiti and Non Kuwaiti Shareholding Companies |
Official Market: KD 10,000 |
Only once, upon submitting the listing application |
|
Parallel Market: KD 3,000 |
|||
|
|
Request of listing a collective investment scheme in the Securities Exchange |
KD 10,000 |
Only once, upon submitting the listing application |
|
|
Request of listing a foreign collective investment scheme in the Securities Exchange |
KD 10,000 |
Only once, upon submitting the listing application |
|
|
Request of licensing investment portfolios management activity
|
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Paid once upon licensing, and upon renewal every 3 years |
||
|
|
Request of licensing investment trust activity (safeguarding of assets that consist the collective investment schemes)
|
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years |
||
|
|
Request of incorporating and licensing an investment fund
|
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal |
||
|
|
Request of licensing an investment consultancy services activity |
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years |
||
|
|
Request of licensing investment controller activity |
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years |
||
|
|
Request of licensing subsidiary custodian activity
|
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years |
||
|
|
Request of licensing securities brokerage registered in the Securities Exchange |
KD 10,000 |
Only once, upon submitting the application |
|
KD Million |
Only once, upon licensing |
||
|
KD 100,000 |
Paid annually
|
||
|
|
1 Request of Licensing a securities' broker activity not listed in the securities exchange |
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years |
1 Added pursuant to CMA Board of Commissioners Resolution No. (22) of 2013 on 29/5/2013.
|
|
Request of licensing a collective investment scheme manager's activity |
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years |
||
|
|
Request of licensing a sale agent activity |
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years |
||
|
|
Request of licensing a credit rating activity |
KD 1,000 |
Only once, upon submitting the application |
|
KD 10,000 |
Only once, upon licensing, and upon renewal every 3 years |
||
|
|
Request of incorporating and licensing a clearing agency |
KD 10,000 |
Only once, upon submitting the application |
|
KD 5,000,000 |
Only once, upon licensing |
||
|
KD 500,000 |
Paid annually upon renewal |
||
|
|
Request of licensing a foreign company branch in securities' activity |
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years for each activity of the securities' activities |
||
|
|
Request of licensing marketing units of foreign collective investment funds, or foreign collective investment in Kuwait |
KD 1,000 |
Only once, upon submitting the application |
|
KD 50,000 |
Paid upon licensing and renewal |
||
|
|
Request of marketing foreign securities inside Kuwait |
KD 1,000 |
Only once, upon submitting the application
|
|
|
Request of licensing a licensed person to practice its activity outside Kuwait |
KD 5,000 |
Only once, upon submitting the application |
|
|
Request of licensing an auditor in the concerned register with the Authority |
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years |
|
|
Request to register external Sharia audit office in the concerned register with the Authority |
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years |
|
|
Request to register the positions that must be registered with the licensed persons |
KD 100 |
Only once, upon licensing, and upon renewal every 3 years |
|
|
1 Request of a prospectus approval to issue any security |
KD 1,000 |
Only once, upon submitting the application |
|
|
Fees of submitting a complaint to the Complaint and Grievances committee |
KD 100 |
Paid once upon submitting the compliant |
|
|
Fees of submitting a complaint to the Complaint and Grievances committee |
KD 500 |
Paid once upon submitting the compliant, 90% shall be recovered in case of approval |
1 Added pursuant to the CMA Board of Commissioners Resolution No. (18) of 2014 on 6/4/2014
|
|
Fees for obtaining copies of documents, records or reports kept with the Authority |
KD 1 per page |
|
|
|
Fees for obtaining copies of documents related to infringements referred to the Disciplinary Board |
Free |
|
|
|
A certificate of replacement for lost investment fund units |
KD 5 |
Paid for every shareholder for each units certificate
|
|
|
A certificate of replacement for lost company's license/ investment fund |
KD 20 |
Paid for each application of replacement of lost license |
|
|
1 Fees of applying for acquisition offers
|
KD 10,000 |
Upon submitting the acquisition application offer to the CMA |
|
0.001% of the value of the transaction, not exceeding KD 250,000 |
After collecting the shares by the acquisition deal manager, and when submitting an approval request for executing the deal |
||
|
|
2 Fees of submitting requests for executing the merger deals for the companies licensed by the CMA |
KD 10,000 |
Paid upon submitting the merger project's contract to the CMA |
|
KD 10,000 |
After the issuance of the Ministry of Commerce & Industry's resolution of the company's dissolution |
The fees of executing the acquisition deals shall be distributed as follows:
- Capital Markets Authority 60%
- The Securities Exchange 30%
- The Clearing Agency 10%
Upon executing the acquisition or merger, no other parties shall obtain any other fees.
___________________________________________________________________________
1 Added pursuant to the CMA Board of Commissioners Resolution No. (3) of 2015 on 14/1/2015
2 Added pursuant to the CMA Board of Commissioners Resolution No. (65) of 2014 on 16/12/2014
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