CmaBoardReleases
Title: Resolution No. (106) of 2017 Regarding the License Request 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
- The license request submitted by Protiviti Member Firm Kuwait; and
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (25) of 2017 held on 21/06/2017.
The Following Was Resolved
Article (1)
Protiviti Member Firm Kuwait is hereby granted a preliminary approval for practicing the activity of Investment Advisor.
This approval is valid for six renewable months starting from the date of the preliminary approval letter issued by the CMA, to complete the legal procedures of amending the memorandum and articles of association by adding the required activity to the company, to be included in the objectives of its incorporation or to meet specified criteria.
Article (2)
The company mentioned in this Resolution is licensed after completing the requirements mentioned in the preliminary approval letter issued by the CMA for three renewable years from the date of issuing the CMA license certificate, after paying the required fee when obtaining the license.
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. Nayef Falah Al-Hajraf
Chairman of CMA Board of Commissioners
Issued on: 05/07/2017