CmaBoardReleases
Title: Resolution No. (30) of 2018 Regarding Revoking the Securities Activities License of Gulf Investment House and Removing the Company’s Name from the 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
- The securities activities license certificate of Gulf Investment House No. (AP/2015/0027) issued on 7/10/2015; and
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (8) of 2018 held on 28/2/2018.
The Following Was Resolved
Article (1)
The securities activities license of Gulf Investment House is hereby revoked, and the company’s name is therefore removed from the licensed persons register at the CMA. However, the company is obliged to safe-keep the clients’ funds until they are handed over to them or to the party that is responsible to hold, manage or safe-keep those funds.
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.
Mishaal M. Al-Usaimi
Issued on: 1/3/2018