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CMA LAW: Resolution No. (4) of 2016 Regarding Regularizing the Situations of Kuwait Investment Company Pursuant to Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws
Date Publish
03 February 2016
Having Perused:
- Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments, and its Executive Bylaws; and
- CMA Resolution No. (66) of 2014 issued on 16/12/2014 licensing the investment companies which regularized their situations pursuant to Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws; and
- CMA Board of Commissioners Resolution No. (61) of 2015 issued on 23/8/2015 licensing the investment companies which regularized their situations pursuant to Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws; and
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (3) of 2016 held on 20/1/2016 on regularizing the situations of Kuwait Investment Company.
The Following Was Resolved
Article (1) The initial approval period granted to Kuwait Investment Company is hereby terminated. It has ended on 17/12/2015 and the Company's situations regarding the activities of Investment Portfolio Manager and Collective Investment Scheme Manager have not been regularized.
Article (2) The request of Kuwait Investment Company for licensing the following activities is hereby declined:
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