CmaBoardReleases
Title: Resolution No. (70) of 2017 on the License Request Submitted by KAB KUWAIT GROUP to Practice Securities Activities Pursuant to Law No. (7) of 2010 on 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 on the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their amendments; and
- The license request submitted by KAB KUWAIT GROUP; and
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (18) of 2017 held on 3/5/2017.
The Following Was Resolved
Article (1)
KAB KUWAIT GROUP is hereby licensed pursuant to this Article to practice the activity of “Securities Broker Not Registered in the Securities Exchange”.
Article (2)
The license period for the mentioned company is three years, that starts from the date of issuing CMA’s license certificate, after paying the prescribed fee when obtaining the license. The mentioned company shall pay the fee when renewing the license for any other term(s) pursuant to Law No. (7) of 2010 and its Executive Bylaws and their amendments, and to CMA’s resolutions and regulations.
Article (3)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from 16/5/2017, and it shall be published in the Official Gazette.
Abdulmohsen H. Al-Mazidi
Acting Chairman of CMA Board of Commissioners
and Managing Director
Issued on: 15/5/2017