CmaBoardReleases
Title: Resolution No. (73) of 2017 Regarding the License Request Submitted by Coast Investment & Development Company 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 Coast Investment & Development Company; and
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (21) of 2017 held on 24/5/2017.
The Following Was Resolved
Article (1)
Coast Investment & Development Company 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. It 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 an 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 the date of its issuance and it shall be published in the Official Gazette.
Dr. Nayef Falah Al-Hajraf
Chairman, CMA Board of Commissioners
Issued on: 05/06/2017