CmaBoardReleases
Title: Resolution No. (10) of 2017 Regarding Revoking the Securities Activities License of The Investment Dar and Removing it from Licensed Persons Register at the CMA
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
- Based on CMA Board of Commissioners Resolution in its meeting No. (3) of 2017 held on 18/01/2017.
The Following Was Resolved
Article (1)
The securities activities license of The Investment Dar is hereby revoked, and it is removed from the licensed persons register at the CMA. However, it shall guard the clients’ funds until they are handed over to them or to the person that is concerned with holding, managing or safekeeping them.
Article (2)
The concerned bodies shall execute this Resolution, each within its jurisdiction. It shall come into force from the date of its issuance, and it shall be published in the Official Gazette.
Dr. Nayef Falah Al-Hajraf
Chairman, CMA Board of Commissioners
Issued on: 25/1/2017