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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
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    • 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 General Duties Of Module Thirteen: Collective Investment Schemes
Section: Chapter Two: Funds
  • Monday, 13 February 2017

    Service providers for a Fund should comply with the following: 1. Must be a Licensed Person or Registered Persons at the Authority to provide a service. The service provider should have the adequate human resources, technical and financial abilities and capabilities to the sufficient extent to meet the commitments thereof. 2. Enter into a contract with the service provider which includes the rights and obligations of the parties thereto, in particular, the fees of the service provider, the bases of calculating it, dates of payment, the procedures to be taken at the termination of such contract, and procedures and implications resulting from the termination of the relationship with such service provider. 3. Assume Care of a Prudent Person when undertaking the responsibilities of a service provider, and cooperate with the other service providers of the Fund, and compensate every Person harmed as a result of an error committed by the Service Provider. 4. The service provider, except for the Fund Manager, may not deal in the Fund’s Units for its interest or on anyone’s behalf.

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