CmaBoardReleases
Title: Resolution No. (72) of 2021 Regarding the License Application Submitted by KAMCO Investment 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
- Resolution No. (134) of 2020 Regarding the License Application Submitted by KAMCO Investment Company to Practice Securities Activities pursuant to Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its amendments issued on 31/12/2020; and
- Based on the application submitted by KAMCO Investment Company to renew the preliminary approval issued by the CMA for a similar period; and
- Based on Resolution No. (22) of 2021 regarding amending the final approval of authorizations for the Supervision Sector’s procedures issued on 04/03/2021.
The Following Was Resolved
Article (1)
The preliminary approval granted to KAMCO Investment Company for licensing the activity of Market Maker is hereby renewed.
The approval is valid for six months starting from 01/07/2021 and ending on 30/12/2021 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.
Anwar Al-Mudhaf
Acting Head of Supervision Sector
Issued on: 24/06/2021