CmaBoardReleases
Title: Resolution No. (169) of 2018 Regarding the License Application Submitted by Alwazzan for Management and Economic Consulting Services 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 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their amendments; and
-Resolution No. (86) of 2018 Regarding the License Application Submitted by Alwazzan for Management and Economic Consulting Services 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; and
-The request of Alwazzan for Management and Economic Consulting Services to renew the preliminary approval issued by CMA for a similar period on 23/12/2018; and
- Resolution No. (149) of 2018 on amending the final approval of authorizations for the Supervision Sector’s procedures issued on 25/11/2018.
The Following Was Resolved
Article (1)
The preliminary approval granted to Alwazzan for Management and Economic Consulting Services for licensing the activity of Asset Valuator is hereby renewed.
The approval is valid for six months starting from 27/12/2018 and ending on 26/06/2019 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. The license will be valid for a renewable period of three years starting on the date of issuance of the CMA license certificate.
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: 26/12/2018
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