Title: Resolution No. (61) of 2019 Regarding Cancelling part of the Securities Activities License of The Securities House Company and Amending the List of Licensed Activities in 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

- Based on the application submitted by The Securities House Company to cancel part of the securities activities license and amend the list of licensed activities in the licensed persons register at the CMA; and

- Based on the Extraordinary General Assembly Meeting of The Securities House Company held on 14/04/20189 regarding the approval of amending the Company’s activities that were established pursuant to the provisions of Commercial Companies Law No. (15) of 1960, and the notation of that in the commercial register at the Ministry of Commerce & Industry on 22/04/2019; and

- Resolution No. (149) of 2018 regarding amending the final approval of authorizations for the Supervision Sector’s procedures issued on 25/11/2018.  

The Following Was Resolved

Article (1)
The securities activities license of The Securities House Company at the CMA is hereby cancelled for practicing the following activities:

1. Custodian

2. Investment Controller

3. Securities Broker not registered in the Securities Exchange

The list of licensed activities in the licensed persons register at the CMA is hereby amended. 

Article (2)
The Company shall remain a licensed person for the other licensed securities activities and registered in the licensed persons register, pursuant to the license issued by the CMA.

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. 

Zeyad Al-Fulaij
Acting Head of Supervision Sector 
Issued on: 01/05/2019

Copy of the Official Document