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Title: Resolution No. (83) of 2015 Regarding Licensing the Investment Companies which Regularized their Situations Pursuant to Law No.(7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments
Date Publish
31 December 2015
Having Perused:
- Law No. (7) of 2010 regarding the Establishment of Capital Markets Authority and Regulating Securities Activities and its Amendments; and
- Resolutions No. (32), (37) & (61) on licensing the investment companies which regularized their situations pursuant to Law No. (7) of 2010 regarding 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. (43) of 2015 held on 21/12/2015.
The Following Was Resolved
Article (1): The investment companies listed below, which regularized their situations pursuant to Law No. 7 of 2010 and its amendments, and CMA resolutions and regulations issued in this regard, are hereby licensed. The license term shall be three years starting from the date of issuing the CMA license certificate, and after paying the required fee when licensing the activities added to the company's purposes. The companies shall pay the fee when renewing the license for any other term (s) according to CMA's Law, resolution, and regulations. The table below includes the companies and the activities they are licensed to practice according to this Article:
CMA Data Classification:
Public 2 Article (2): The initial approval for the companies mentioned below is hereby renewed for six final nonrenewable months, in order for the companies to complete the legal procedures of amending the Memorandum and Articles of Association by adding the required activities which the company is permitted to practice as part of the purposes of its establishment, or to fulfill certain criteria. The following table includes such companies and the activities they are permitted to practice according to this Article: S/N Company Name Activities Granted Initial Approval 1 Al-Fouz Investment Company
- Securities broker who is not registered in the Securities Exchange.
- Investment Advisor.
- Investment Portfolio Manager.
- Collective Investment Scheme Manager.
- Subscription Agent. S/N Company Name Licensed Activity 1 Arab Investment Company
- Securities broker who is not registered in the Securities Exchange.
- Investment Advisor.
- Investment Portfolio Manager
. - Collective Investment Scheme Manager.
- Custodian.
- Investment controller.
- Subscription Agent. 2 Al-Riyada Finance & Investment Company
- Securities broker who is not registered in the Securities Exchange.
- Investment controller. CMA Data Classification: Public 3 2 Hayat Invest Company
- Securities broker who is not registered in the Securities Exchange. 3 Alimtiaz Investment Group Co
- Securities broker who is not registered in the Securities Exchange.
- Investment Advisor.
- Investment Portfolio Manager.
- Collective Investment Scheme Manager.
- Subscription Agent. 4 Osoul Investment Company
- Investment Controller. 5 Al-Fanar Investment Company
- Investment Advisor.
- Investment Portfolio Manager.
- Collective Investment Scheme Manager.
- Custodian.
- Investment controller. - Subscription Agent. 6 Arabian Capital Investment and Finance Company
- Investment Advisor.
- Investment Portfolio Manager.
- Subscription Agent.
Article (3): The companies mentioned in Article (2) of this Resolution shall be licensed after completing the requirements mentioned in the initial approval letter issued by the CMA for three renewable years from the issuance date of the CMA's license certificate, and after paying the required fee regarding licensing the activities which are added to the company's purposes. The company shall pay the fee when renewing the license for any other term(s) subject to the Law and its amendments, in addition to the CMA's resolutions and regulations.
Article (4): All companies mentioned in this Resolution shall comply with the Transitional Provisions mentioned in Annex No. (3) of Resolution No. (72) of 2015 regarding the issuance of the Executive Bylaws of Law No. (7) of 2010 and its Amendments. CMA Data Classification: Public 4
Article (5): The concerned bodies shall execute this Resolution, each within its own jurisdiction. This Resolution shall come into force from the date of its issuance, and shall be published in the Official Gazette. Dr. Nayef Falah Al-Hajraf Chairman of the Board of Commissioners
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.
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Title: Resolution No. (83) of 2015 Regarding Licensing the Investment Companies which Regularized their Situations Pursuant to Law No.(7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments
Date Publish
31 December 2015
Having Perused:
- Law No. (7) of 2010 regarding the Establishment of Capital Markets Authority and Regulating Securities Activities and its Amendments; and
- Resolutions No. (32), (37) & (61) on licensing the investment companies which regularized their situations pursuant to Law No. (7) of 2010 regarding 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. (43) of 2015 held on 21/12/2015.
The Following Was Resolved
Article (1): The investment companies listed below, which regularized their situations pursuant to Law No. 7 of 2010 and its amendments, and CMA resolutions and regulations issued in this regard, are hereby licensed. The license term shall be three years starting from the date of issuing the CMA license certificate, and after paying the required fee when licensing the activities added to the company's purposes. The companies shall pay the fee when renewing the license for any other term (s) according to CMA's Law, resolution, and regulations. The table below includes the companies and the activities they are licensed to practice according to this Article:
CMA Data Classification:
Public 2 Article (2): The initial approval for the companies mentioned below is hereby renewed for six final nonrenewable months, in order for the companies to complete the legal procedures of amending the Memorandum and Articles of Association by adding the required activities which the company is permitted to practice as part of the purposes of its establishment, or to fulfill certain criteria. The following table includes such companies and the activities they are permitted to practice according to this Article: S/N Company Name Activities Granted Initial Approval 1 Al-Fouz Investment Company
- Securities broker who is not registered in the Securities Exchange.
- Investment Advisor.
- Investment Portfolio Manager.
- Collective Investment Scheme Manager.
- Subscription Agent. S/N Company Name Licensed Activity 1 Arab Investment Company
- Securities broker who is not registered in the Securities Exchange.
- Investment Advisor.
- Investment Portfolio Manager
. - Collective Investment Scheme Manager.
- Custodian.
- Investment controller.
- Subscription Agent. 2 Al-Riyada Finance & Investment Company
- Securities broker who is not registered in the Securities Exchange.
- Investment controller. CMA Data Classification: Public 3 2 Hayat Invest Company
- Securities broker who is not registered in the Securities Exchange. 3 Alimtiaz Investment Group Co
- Securities broker who is not registered in the Securities Exchange.
- Investment Advisor.
- Investment Portfolio Manager.
- Collective Investment Scheme Manager.
- Subscription Agent. 4 Osoul Investment Company
- Investment Controller. 5 Al-Fanar Investment Company
- Investment Advisor.
- Investment Portfolio Manager.
- Collective Investment Scheme Manager.
- Custodian.
- Investment controller. - Subscription Agent. 6 Arabian Capital Investment and Finance Company
- Investment Advisor.
- Investment Portfolio Manager.
- Subscription Agent.
Article (3): The companies mentioned in Article (2) of this Resolution shall be licensed after completing the requirements mentioned in the initial approval letter issued by the CMA for three renewable years from the issuance date of the CMA's license certificate, and after paying the required fee regarding licensing the activities which are added to the company's purposes. The company shall pay the fee when renewing the license for any other term(s) subject to the Law and its amendments, in addition to the CMA's resolutions and regulations.
Article (4): All companies mentioned in this Resolution shall comply with the Transitional Provisions mentioned in Annex No. (3) of Resolution No. (72) of 2015 regarding the issuance of the Executive Bylaws of Law No. (7) of 2010 and its Amendments. CMA Data Classification: Public 4
Article (5): The concerned bodies shall execute this Resolution, each within its own jurisdiction. This Resolution shall come into force from the date of its issuance, and shall be published in the Official Gazette. Dr. Nayef Falah Al-Hajraf Chairman of the Board of Commissioners
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.
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