CmaBoardReleases
Title: Resolution No. (95) of 2017 Regarding Adding Controls of Custodian Activity
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. (72) of 2015 on the Issuance of the Executive Bylaws of Law No. (7) of 2010 on the Establishment of the Capital Markets Authority and Regulating Securities Activities and its amendments; and
- CMA Board of Commissioners Resolution passed in its meeting No. (23) of 2017 held on 06/06/2017.
The Following Was Resolved
Article (1)
Module Five (Securities Activities and Registered Persons), Module Six (Policies & Procedures of Licensed Persons) and Module Seven (Clients’ Funds and Clients’ Assets) are hereby amended.
Article (2)
Companies issued license for practicing Custodian activity by the CMA shall meet the requirements mentioned in this Resolution by 21/06/2018.
Article (3)
Whatever conflicts with the provisions of the attached Executive Bylaws shall be annulled.
Article (4)
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. Nayef Falah Al-Hajraf
Chairman of CMA Board of Commissioners
Issued on: 22/06/2017