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CMA LAW: Resolution No.(9) of 2011 Regarding the Requirements of Licensees
Date Publish
28 November 2015
Resolution No.(9) of 2011
Regarding the Requirements of Licensees
Having Perused:
- Law of the Establishment of the Capital Markets Authority and Regulating Securities Activity No. 7 of 2010; and
- Article No. (142) of the Executive Bylaw of Law No. 7 of 2010 issued by the CMA Board of Commissioners' Resolution No. 2-4 of 2011 on 3/3/2011; and
- Based on the approval of the Board of Commissioners passed in its meeting on Monday 9/5/2011.
The Following Was Resolved
Article One: Determining the Capital of the licensed persons and the legal form required for practicing the activity as per the following:
|
# |
Activity |
Legal form |
Capital |
|
1 |
Securities Broker |
Shareholding Company |
10 Million Kuwaiti Dinars |
|
2 |
Investment Advisor |
Shareholding Company |
One Million Kuwaiti Dinars |
|
3 |
Investment Portfolio Manager |
Shareholding Company |
10 Million Kuwaiti Dinars |
|
4 |
Collective Investment Scheme Manager |
Shareholding Company |
15 Million Kuwaiti Dinars |
|
5 |
Custodian |
Shareholding Company |
15 Million Kuwaiti Dinars |
|
6 |
Investment Controller |
Shareholding Company |
5 Million Kuwaiti Dinars |
|
7 |
Offering or sale of securities on behalf of the issuer or its affiliate or obtaining securities from the issuer or its affiliate for re-selling (Issuance Management) |
Shareholding Company |
10 Million Kuwaiti Dinars |
Article Two: All sectors' heads and departments' directors shall execute the provisions of this Resolution and act accordingly from the date of its issuance.
Saleh Mubarak Al-Falah
Chairman, CMA Board of Commissioners
Issued on 13/6/2011
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