Title: Announcement on Q8 Securities Company

The Capital Markets Authority announces issuance of CMA Board of Commissioners Resolution passed its meeting No. (10) of 2019 held on 27/03/2019 referred to in Resolution No. (45) of 2019 issued on 31/03/2019, which states the following:

1. Cancellation of the license of all securities activities of Q8 Securities Company and removing it from the register of Licensed Persons at the Capital Markets Authority. The company shall safeguard the funds and assets of Clients until they are delivered to them or to ones relevant of their holding, management or safekeeping, pursuant to Article (67) of Law No. 7 of 2010 on the Establishment of the Capital Markets Authority and Regulating Securities Activities and its amendments. The Company violated the provisions of Articles (63), (93), (125) and (126) of the same Law and the relevant provisions in its Executive Bylaws and their amendments.
2. The Company shall be committed to deliver the funds and assets of Clients to them or any party related in the possession, management or safekeeping thereof within a period of one year from the date of the said Resolution.
3. The Company shall provide the Authority with a monthly report from the date of the said Resolution on the termination of the Company's business for the funds and assets Clients until the completion of the delivery work.

Accordingly, it is necessary to mention the provisions of Article (1-15) of Module Five (Securities Activities and Registered Persons) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activity, which states the following:
“The Authority’s cancellation, suspension or restriction of a license shall not prevent the  Authority  from  exercising  its  right  to  undertake  an  investigation  or  to  take  any  procedures  against  the  Licensed  Person  or  any  other  person  related  to  any  Violation taking place before the date of the Authority’s decision of cancellation and suspending the license or restricting the activity.”