CmaBoardReleases
Title: Resolution No. (11) of 2017 on Resuming the Activity of Securities Broker Registered with an Exchange of Al-Robaeya Brokerage Company
Having Perused:
- Law No. (7) of 2010 on the Establishment of the Capital Markets Authority and Regulating Securities Activities and it Executive Bylaws, and their amendments; and
- Resolution No. (82) of 2016 Regarding Ceasing the Activity of Securities Broker Registered with an Exchange of Al-Robaeya Brokerage Company; and
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (6) of 2017 held on 8/2/2017.
The Following Was Resolved
Article (1): The activity of Securities Broker Registered with an Exchange of Al-Robaeya Brokerage Company is hereby resumed.
Article (2): Boursa Kuwait Securities Company shall restore the activity of Al-Robaeya Brokerage Company to the automated trading system.
Article (3): Kuwait Clearing Company shall transfer the accounts of Al-Robaeya Brokerage Company’s clients upon the client’s will, and after verifying that they fulfil all obligations arising from securities transactions executed on 13/2/2017 or before by any person licensed to practice the activity of a Securities Broker Registered in an Exchange without requiring the approval of such person for that purpose.
Article (4): The concerned bodies shall execute this Resolution, each within its jurisdiction. It shall be published in the Official Gazette.
Dr. Nayef Falah Al-Hajraf
Chairman, CMA Board of Commissioners
Issued on: 13/2/2017