CMA LAW: Resolution No. (04) of 2022 Regarding the License Application Submitted by KAMCO Investment Company to Practice Securities Activities

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. (134) of 2020 Regarding the License Application Submitted by KAMCO Investment Company to practice securities activities issued on 31/12/2020; and

- Resolution No. (72) of 2021 Regarding the License Application Submitted by KAMCO Investment Company to Practice Securities Activities issued on 24/06/2021; and

- Based on the application submitted by KAMCO Investment Company to renew the preliminary approval issued by the CMA for a similar period; and

- CMA Board of Commissioners Resolution passed in its meeting no. (01) of 2022 issued on 05/01/2022.

The Following Was Resolved

Article (1)

The preliminary approval granted to KAMCO Investment Company for licensing the activity of Market Maker is hereby renewed.

The approval is valid for six months starting from 31/12/2021 and ending on 30/06/2021 in order to meet the criteria specified by the CMA. The Company shall complete the update of its automated system in order to pass the necessary tests and obtain the approval of Boursa Kuwait to practice the mentioned activity.

 Article (2)

The Company mentioned in this Resolution shall 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, and after the payment of the required fee.

 Article (3)

The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force as of 31/12/2021 and it shall be published in the Official Gazette.

 
Zeyad Al-Fulaij
Head of Supervision Sector
Issued on: 10/01/2022

Copy of the Official Document

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