Title: Resolution No. (99) of 2021 Regarding the Rejection of the Application for Cancellation of Kuwait Real Estate Investment Consortium
- 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 license certificate of the securities activities of Kuwait Real Estate Investment Consortium Company (AP / 2017/0008) issued on 11/06/2020; and
- The request of Kuwait Real Estate Investment Consortium Company to cancel the license of securities activities at the CMA;
- Based on Resolution No. (63) of 2021 regarding amending the authorizations for the Supervision Sector’s procedures issued on 14/06/2021.
The Following Was Resolved
The application for canceling the securities activities license of Kuwait Real Estate Investment Consortium Company at the CMA to practice the activity of the Investment Portfolio Manager is hereby rejected due to not meeting the necessary requirements.
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date it is published in the Official Gazette.
Head of Supervision Sector
Issued on: 02/09/2021