CMA LAW:
Circular No. (6) of 2016 on the Annual Report of Licensed Persons’ Auditors Concerning their Compliance with the Provisions of Module Seven of the Executive Bylaws “Circular to All Auditors Registered with the CMA for Licensed Persons who are Subject to the Provisions of Module Seven”
Date Publish15 May 2016
Registered Auditor,
Greetings,
We would like to draw your attention to the provision of Article (2-7) of Chapter Two (General Provisions) of Module Seven of the Executive Bylaws of Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments, which stipulates that the licensed person’s auditor must submit an annual report to the CMA. It shall state in such report the extent of the licensed person’s compliance with the provisions of Module Seven (Clients’ Funds and Clients’ Assets) of the Executive Bylaws of the mentioned Law.
Therefore, you are required to comply with the above mentioned provision, and submit a copy of the required report to the CMA by March 1 of every year, and provide the CMA with the annual report of 2015 by June 30, 2016. The report shall be in the Arabic Language.
Dr. Faisal Al-Fahad
Acting Chairman, CMA Board of Commissioners
Acting Managing Director
CMA Automated Assistant 