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CMA LAW: Resolution No. (65) of 2014 Regarding Amending CMA Board of Commissioners Resolution No. (19) of 2013 on the Issuance of the Fee Schedule
Date Publish
28 November 2015
Resolution No. (65) of 2014
Regarding
Amending CMA Board of Commissioners Resolution
No. (19) of 2013 on the Issuance of the Fee Schedule
Having Perused:
- Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority ("CMA") and Regulating the Securities' Activity, and its Executive Bylaw, as amended; and
- CMA Board of Commissioners Resolution No. (19) of 2013 issued on 1/5/2013 on the Issuance of the Fee Schedule; and
- CMA Board of Commissioners Resolutions No. (22) of 2013 issued on 29/5/2013 and No. (18) of 2014 issued on 6/4/2014 on amending CMA Board of Commissioners Resolution No. (19) of 2013 on the Issuance of the Fee Schedule; and
- Based on the CMA Board of Commissioners Resolution passed in its meeting No. (27) of 2014 held on 10/12/2014 on adding the fee of applying for executing the merger transactions to the companies licensed by the CMA.
The Following Was Resolved
Article (1):
Resolution No. (19) of 2013 of CMA Board of Commissioners on the Issuance of the Fee Schedule is hereby amended by adding the following clause:
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Amount (KD) |
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Fees of applying for executing merger transactions to the companies licensed by the CMA |
KD 10,000 |
Paid Upon submitting the merger agreement contract to the CMA |
|
KD 10,000 |
After the issuance of the Ministry of Commerce & Industry's resolution of the company's dissolution |
Article (2):
CMA Fee Schedule shall be attached to this Resolution including all the amendments.
Article (3):
This Resolution shall come into effect from the issuance date hereof. It shall be executed by the concerned sectors' heads and departments' directors.
Dr. Nayef Falah Al-Hajraf
Chairman, CMA Board of Commissioners
Issued on 16 / 12 / 2014
CMA Fee Schedule [1]
|
SN |
Fee |
Amount (KD) |
Maturity |
|
1 |
Request of listing securities of both Kuwaiti and Non Kuwaiti Shareholding Companies |
Official Market: KD 10,000 |
Only once, upon submitting the listing application |
|
Parallel Market: KD 3,000 |
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|
2 |
Request of listing a collective investment scheme in the Securities Exchange |
KD 10,000 |
Only once, upon submitting the listing application |
|
3 |
Request of listing a foreign collective investment scheme in the Securities Exchange |
KD 10,000 |
Only once, upon submitting the listing application |
|
4 |
Request of licensing investment portfolios management activity
|
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Paid once upon licensing, and upon renewal every 3 years |
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|
5 |
Request of licensing investment trust activity (safeguarding of assets that consist the collective investment schemes)
|
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years |
||
|
6 |
Request of incorporating and licensing an investment fund
|
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal |
||
|
7 |
Request of licensing an investment consultancy services activity |
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years |
||
|
8 |
Request of licensing investment controller activity |
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years |
||
|
9 |
Request of licensing subsidiary custodian activity
|
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years |
||
|
10
|
Request of licensing securities brokerage registered in the Securities Exchange |
KD 10,000 |
Only once, upon submitting the application |
|
KD Million |
Only once, upon licensing |
||
|
KD 100,000 |
Paid annually |
||
|
11 |
Request of Licensing a securities' broker activity not listed in the securities exchange [2] |
KD 1,000
|
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years |
||
|
12
|
Request of licensing a collective investment scheme manager activity |
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years |
||
|
13 |
Request of licensing a sale agent activity |
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years |
||
|
14 |
Request of licensing a credit rating activity |
KD 1,000 |
Only once, upon submitting the application |
|
KD 10,000 |
Only once, upon licensing, and upon renewal every 3 years |
||
|
15 |
Request of incorporating and licensing a clearing agency |
KD 10,000 |
Only once, upon submitting the application |
|
KD 5,000,000 |
Only once, upon licensing |
||
|
KD 500,000 |
Paid annually upon renewal |
||
|
16 |
Request of licensing a foreign company branch in securities' activity |
KD 1,000 |
Only once, upon submitting the application |
|
KD 5,000 |
Only once, upon licensing, and upon renewal every 3 years for each activity of the securities' activities |
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|
17 |
Request of licensing marketing units of foreign collective investment funds, or foreign collective investment in Kuwait |
KD 1,000 |
Only once, upon submitting the application |
|
KD 50,000 |
Paid upon licensing and renewal |
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|
18 |
Request of marketing foreign securities inside Kuwait |
KD 1,000 |
Only once, upon submitting the application |
|
19 |
Request of licensing a licensed person to practice its activity outside Kuwait |
KD 5,000 |
Only once, upon submitting the application |
|
20 |
Request of licensing an auditor in the concerned register with the Authority |
KD 5,000 |
Only once, upon submitting the application, and upon renewal every 3 years |
|
21 |
Request to register external Sharia audit office in the concerned register with the Authority |
KD 5,000 |
Only once, upon submitting the application, and upon renewal every 3 years |
|
22 |
Request to register the positions that must be registered with the licensed persons |
KD 100 |
Only once, upon submitting the application, and upon renewal every 3 years |
|
23 |
Request of a prospectus approval to issue any security [3] |
KD 1,000 |
Only once, upon submitting the application |
|
24 |
Fees of submitting a complaint to the Complaint and Grievances Committee |
KD 100 |
Paid once upon submitting the compliant
|
|
25 |
Fees of submitting a complaint to the Complaint and Grievances Committee |
KD 500 |
Paid once upon submitting the compliant, 90% shall be recovered in case of approval
|
|
26 |
Fees for obtaining copies of documents, records or reports kept with the Authority |
KD 1 per page |
|
|
27 |
Fees for obtaining copies of documents related to infringements referred to the Disciplinary Board |
Free |
|
|
28 |
A certificate of replacement for lost investment fund units |
KD 5 |
Paid for every shareholder for each units certificate |
|
29 |
A certificate of replacement for lost company's license/ investment fund |
KD 20 |
Paid for each application of replacement of lost license |
|
30 |
Fees of applying for acquisition offers or merger
|
KD 10,000 |
Upon submitting the application |
|
0.001% of the value of the transaction, not exceeding KD 250,000 |
After collecting the shares by the deal manager, and signing the sale minutes |
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|
31 |
Fees of applying for executing merger transactions to companies licensed by the CMA [4]
|
KD 10,000 |
Paid Upon submitting the merger agreement contract to the CMA |
|
KD 10,000 |
After the issuance of the Ministry of Commerce & Industry's resolution of the company's dissolution |
The fees of executing the acquisition and merger deals shall be distributed as follows:
- Capital Markets Authority 60%
- The Securities Exchange 30%
- The Clearing Agency 10%
Upon executing the acquisition or merger, no other parties shall obtain any other fees.
[1] Issued Pursuant to CMA Resolution No. (19) of 2013 on 1/5/2013
[2] Added Pursuant to CMA Board of Commissioners Resolution No. (22) of 2013 on 29/5/2013
[3] Added Pursuant to CMA Board of Commissioners Resolution No. (18) of 2014 on 6/4/2014
[4] Added pursuant to CMA Board of Commissioners Resolution No. (65) of 2014 on 16/12/2014
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