CmaBoardReleases
Title: Resolution No. (116) of 2018 Regarding Revoking the Securities Activities License of Al Robaeya Brokerage Company and Deleting the company’s name from the Licensed Persons Register at the CMA
Having Perused:
- Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws, and their amendments; and
- The securities activities license certificate of Al Robaeya Brokerage Company No. (AP/2013/0003) issued on 14/04/2016 for practicing the activity of a securities broker registered in the Securities Exchange; and
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (27) of 2018 held on 15/08/2018.
The Following Was Resolved
Article (1)
The securities activities license of Al Robaeya Brokerage Company is hereby revoked, and the company’s name is therefore deleted from the licensed persons register at the CMA. However, the company is obliged to safe-keep the clients’ funds and assets until they are handed over to them or to the party that is responsible to hold, manage or safe-keep those funds.
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.
Mishaal M. Al-Usaimi
Issued on: 30/08/2018