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CMA LAW: Resolution No. (2) of 2011 Regarding Issuance of Fees Schedule
Date Publish
28 November 2015
Resolution No. (2) of 2011
Regarding Issuance of Fees Schedule
Having Perused:
- Law No. 7 of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activity; and
- Article No. (26) of the Executive Bylaw of Law No. 7 of 2010 issued by the CMA Board of Commissioners' Resolution No. 2-4 of 2011 dated 3/3/2011; and
- Based on the approval of the CMA Board of Commissioners passed in its meeting held on 11/04/2011.
The Following Was Resolved
Article (1): Issuing the fees schedule of the Capital Markets Authority as per the following table:
|
Sr. |
Fees |
Amount (KD) |
Maturity |
|
|
Listing securities of both Kuwaiti and Non Kuwaiti Shareholding Companies |
Official Market: KD 10,000 |
Only once, upon listing |
|
Parallel Market: KD 3,000 |
Only once, upon listing |
||
|
|
Requesting licenses for assets management companies, investment funds, investment trust and advisory services companies |
KD 5,000 |
Only once, upon establishment |
|
|
Requesting issuance of licenses for Securities Exchange brokerage
|
KD One Million |
Only once, upon issuance of license |
|
KD 100,000 |
Paid annually |
||
|
|
Requesting issuance of license for securities investment advisor
|
KD 15,000 |
Only once, upon issuance of license and upon renewal every 3 years |
|
|
Requesting issuance of license for the activity of collective investment scheme manager
|
KD 15,000 |
Only once, upon issuance of license and upon renewal every 3 years |
|
|
Requesting issuance of license for the activity of investment trustee for each collective investment
|
KD 15,000 |
Only once, upon issuance of license and upon renewal every 3 years |
|
|
Requesting approval of acquisition offer or merger
|
0.001% of the value of the transaction, not exceeding KD 50,000 |
Only once, upon submitting the application |
|
|
Requesting issuance of license for marketing foreign investment funds units in Kuwait
|
1% of the total value of number of units intended to be marketed |
Only once, upon submitting the application |
|
|
Requesting issuance of license for a company that works in the field of securities or a branch of a foreign company.
|
1% of the total share capital of the company or any equivalent share capital |
Only once, upon issuance of license and upon renewal every 3 years |
|
KD 1,000 |
|
||
|
|
Requesting approval of acquisition offer or merger
|
1% of the value of the acquisition of the shareholding, not less than KD 5,000 |
Only once, upon submitting the application |
|
|
Requesting listing a collective investment scheme in the Securities Exchange |
KD 10,000 |
Paid once upon listing |
|
|
Requesting listing a foreign collective investment scheme in the Securities Exchange |
KD 10,000 |
Paid once upon listing |
|
|
Approving a licensed person to carry out activities outside Kuwait |
KD 5,000 |
Only once, upon submitting the application |
|
|
Application to register an audit office in the CMA’s register |
KD 1,000 |
Only once, upon submitting the application |
|
|
Application to register Sharia audit office in the CMA’s register |
KD 1,000 |
Only once, upon submitting the application |
|
|
Fee of submitting complaints to the Complaint and Grievances Committee |
KD 100 |
Paid once upon submitting the compliant |
|
|
Fee of submitting complaints to the Complaint and Grievances Committee |
KD 500 |
Paid once upon submitting the compliant, 90% shall be recovered in case of approval |
|
|
Registration request of "Positions to Be Registered" with the licensed persons |
KD 100 |
Only once, upon issuance of license and upon renewal every 3 years |
|
|
Fee for getting copies of documents, records or reports kept with the CMA |
KD 1 per page |
|
|
|
Fee for getting copies of documents related to violations referred to the disciplinary board |
Free |
|
Article (2): Trading fees shall be approved and remain unchanged. The amount of these fees shall be defined through a subsequent resolution indicating the CMA’s share in these fees.
Article (3): In a subsequent resolution, the fees for licensing a securities exchange and a clearing agency as well as subsidiary portfolio shall be defined.
Article (4): All sectors' heads and departments' directors shall execute this resolution as it shall be effective from the date of its issuance.
Saleh Mubarak Al Falah
Chairman , CMA Board of Commissioners
Issued on 12/04/2011
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