CmaBoardReleases
Title: Resolution No. (11) of 2018 Regarding the License Application Submitted by Protiviti Member Firm Kuwait to Practice Securities Activities Pursuant to Law No. (7) of 2010 on the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their Amendments
Having Perused:
- Law No. (7) of 2010 on the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their amendments; and
-Resolution No. (106) of 2017 Regarding the License Application Submitted by Protiviti Member Firm Kuwait to Practice Securities Activities Pursuant to Law No. (7) of 2010 on the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their Amendments; and
- The request of Protiviti Member Firm Kuwait to renew the preliminary approval issued by CMA for a similar period; and
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (01) of 2018 held on 03/01/2018;
The Following Was Resolved
Article (1)
Renewal of the preliminary approval is hereby granted for Protiviti Member Firm Kuwait for licensing the activity of Investment advisor.
This approval is valid for six final non-renewable months, starting from 05/01/2018 and ends on 04/07/2018 in order to complete the criteria specified by the CMA.
Article (2)
The company mentioned in this Resolution will be granted a license after completing the requirements mentioned in the preliminary approval letter issued by the CMA. The CMA license certificate will have a validity of three years starting on the date of issuance and is renewable.
Article (3)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date of its issuance and it shall be published in the Official Gazette.
Dr. Faisal A. Al Fahad
Acting Chairman, CMA Board of Commissioners – Managing Director
Issued on: 22/01/2018