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CMA LAW: Resolution No. (16) of 2014 of Capital Markets Authority Regarding License Renewal of the Securities' Activities of Sharq Financial Brokerage Company by the CMA
Date Publish
24 November 2015
Having Perused:
- Law No. (7) of 2010 regarding the "Establishment of Capital Markets Authority and Regulating Securities' Activity", and its Executive Bylaw;
- License certificate of the securities' activities of Sharq Financial Brokerage Company No.(AP/2013/0014) dated 3/7/2013; and
- Based on Sharq Financial Brokerage Company's request on 21/4/2014 to renew the securities' activities license by the CMA; and
- Based on CMA Board of Commissioners Resolution No.(6) of 2013 passed in its meeting No. (4) of 2013 held on 13/3/2013 regarding delegating some competencies of Markets Regulation Sector;
The Following Was Resolved
Article (1): The license of the securities' activities of Sharq Financial Brokerage Company shall be renewed by the CMA to practice the brokerage activity of the purchase and sale of securities for the account of others in consideration of a commission (securities broker registered in the Securities Exchange) for one year, which is renewable after paying the specified fees.
Article (2): The concerned bodies shall execute this Resolution, each within its own capacity. This Resolution shall come into force from the date of its issuance.
Mishaal M. Al-Usaimi
Capital Markets Authority
Issued on 11 / 6 / 2014
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