CmaBoardReleases
Title: Resolution No. (112) of 2022 Regarding Cancellation of the Securities Activities License of Protiviti Member Firm Kuwait and Removing it from the Licensed Persons Register
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
- The application submitted by Protiviti Member Firm Kuwait to cancel all securities activities and remove its name from the licensed persons register at the CMA; and
- The amendment of the objectives for the Company at the Commercial Registry Department at the Ministry of Commerce and Industry on 15/05/2022; and
- Based on Resolution No. (48) of 2022 regarding amending the authorizations of the Supervision Sector’s procedures issued on 03/04/2022.
The Following Was Resolved:
Article (1)
The license of all securities activities granted to Protiviti Member Firm Kuwait is hereby cancelled, and it shall be removed from the licensed persons register at the CMA.
Article (2)
The Company shall fulfill all the legal obligations pursuant to Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, its Executive Bylaws, and their amendments, for the period prior to the enforcement of this Resolution.
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.
Fahed Al-Fadli
Acting Head of Supervision Sector
Issued on: 03/07/2022