CmaBoardReleases
Title: Resolution No. (146) of 2017 Regarding the License Application Submitted by Q8 Securities 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 application submitted by Q8 Securities Company; and
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (40) of 2017 held on 18/10/2017.
The Following Was Resolved
Article (1)
Q8 Securities Company is hereby granted a preliminary approval for licensing the following activities:
- Investment Portfolio Manager.
- Investment advisor.
- Subscription Agent.
This approval is valid for six renewable months, starting from the date of the preliminary approval letter issued by the CMA in order to meet the criteria specified by the CMA.
Article (2)
The company mentioned in this Resolution will be granted a license after completing the requirements mentioned in the preliminary approval letter issued by the CMA, for three renewable years starting from the issuance date of the CMA certificate upon paying the required licensing fee.
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 of CMA Board of Commissioners
Issued on: 25/10/2017