CmaBoardReleases
Back to Search
Title: Resolution No. (23) of 2011 of CMA Board of Commissioners Regarding Amending Resolution No. (9) of 2011 Concerning the Requirements of the Licensed Persons
Date Publish
28 November 2015
Resolution No. (23) of 2013
of CMA Board of Commissioners
Regarding
Amending Resolution No. (9) of 2011 Concerning the Requirements of the Licensed Persons
Having perused:
- Law No. (7) of 2010 Regarding the "Establishment of the Capital Markets Authority and Regulating Securities Activity", and its Executive Bylaw; and
- CMA Board of Commissioners Resolution No. (9) of 2011 regarding the Requirements of the Licensed Persons; and
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (8) of 2013 held on 15-16/5/2013;
We Resolved the Following
Article (1)
Definitions: The following words and phrased shall bare the meaning explained below:
A Securities Broker Listed in the Securities Exchange: A person who conducts the business of purchase and sale of securities for the account of others in consideration of a commission and is listed in the securities exchange.
A Securities Broker not Listed in the Securities Exchange: A person who conducts the business of purchase and sale of securities for the account of others in consideration of a commission and is not listed in the securities exchange, or an investment company which conducts brokerage activity as part of its purposes.
Article (2)
The Schedule included in Article No. (1) of CMA Board of Commissioners Resolution No. (9) of 2011 regarding the Requirements of the Licensed Persons by adding the item below to the mentioned Schedule to replace item (1) of the same Schedule.
|
# |
Activity |
Legal form |
Capital |
|
1 |
Securities Broker listed in the securities exchange |
Shareholding Company |
10 Million Kuwaiti Dinars |
|
|
Securities Broker not listed in the securities exchange |
Shareholding Company |
One Million Kuwaiti Dinars |
Article (3)
This Resolution shall come into force from the issue date. All the sectors' heads and the concerned departments' directors shall execute this Resolution.
Dr. Mahdy I. Al-Jazzaf
Vice Chairman, CMA Board of Commissioners
Issued on 29 / 5 / 2013
Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.
We use cookies to ensure you get the best experience on our website.