CmaBoardReleases
Title: Resolution No. (124) of 2022 Regarding the License Application Submitted by The Securities House 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
- The application submitted by The Securities House Company; and
- Based on Resolution No. (48) of 2022 regarding amending the approval authorizations of the Supervision Sector’s procedures issued on 03/04/2022.
The Following Was Resolved
Article (1)
The CMA hereby grants preliminary approval to The Securities House Company to license the activity of Securities Broker not registered with an Exchange.
The approval is valid for six months starting from 03/08/2022 and ending on 02/02/2023 in order to meet the criteria specified by the CMA.
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 from the date of issuance and it shall be published in the Official Gazette.
Zeyad Al-Fulaij
Head of Supervision Sector
Issued on: 03/08/2022