CmaBoardReleases
Title: Resolution No. (132) of 2016 Regarding Regularizing the Situations of The International Investor Company Pursuant to Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their Amendments
Having Perused:
- Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments; and
- CMA Board of Commissioners Resolution passed in its meeting No. (42) of 2016 held on 14/12/2016
The Following Was Resolved
Article (1)
The license of The International Investor Company is hereby ended, without having their situations regularized with respect to Article (162) of Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities and their amendments. However, it shall guard the clients’ funds until they are handed over to them or to the person that is concerned with holding, managing or safekeeping them.
Article (2)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date of its issuance, and it shall be published in the Official Gazette.
Dr. Nayef Falah Al-Hajraf
Issued on: 25/12/2016