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    • Resolutions and Circulars
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    • Vision
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    • Code Of Ethics
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    • Chairman Message
    • Organizational Structure
  • Awareness
    • Suggestions
    • Publications
    • National Project
    • Events
    • List Of Licensed Companies
    • External Audit Offices
    • List Of Registered Auditors
    • Local and Gulf Unlicensed Entities
    • Persons Restricted from Practicing Securities Activities or Registered Positions and Employment Positions
    • Workshops
    • Facilitating the opening of investment accounts Initiative
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    • FAQ
  • Media Center
    • List of Investment Funds
    • List Of Agreements
    • CMA Gallery
    • Media Appearances
    • Press Releases
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  • International Organizations
  • Fintech
    • Introduction to Financial Technology
    • Securities-based Crowdfunding
    • Digital Financial Advisory
    • Initial Implementation Phase
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Executive Bylaws - CMA

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Executive Bylaws

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  • February 17
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2-13 Of Module Eight: Conduct of Business
Section: Chapter Two: Client Categorisation
  • Sunday, 12 February 2017

    Taking into consideration the rules set out in Module Seven (Clients’ Funds and Assets) of these Bylaws, if a Licensed Person proposes to keep or manage funds or Assets of Retail Clients, it must provide these clients, in particular, with the following information: 1. Whether Client’s funds and assets may be deposited with third party on behalf of the Licensed Person. 2. The limits of liability of the Licensed Person for any omission of the third party. 3. Whether Client’s funds and assets may be held in an omnibus account by a third party, if applicable to such investment, and a prominent warning to the Client of the resulting risks. 4. Whether Client’s funds and assets may be held with a third party to be separately identifiable from the funds and assets of that third party or of the Licensed Person. 5. The Licensed Person shall notify the Client with the competent courts and the applicable law in case of any dispute in relation to assets or funds of the Client outside the State of Kuwait. 6. A summary of the steps which the Licensed Person takes to ensure the protection of the Client’s Assets or funds, including reference to any relevant investor compensation program applied by the Licensed Person.

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