Securities Activities pertain to security exchange, clearing agency, investment portfolio manager, collective investment scheme manager, investment advisor, subscription agent, custodian, market maker, securities broker registered in the securities exchange, securities broker not registered in the securities exchange, investment controller, credit rating agency, valuation of assets, qualified securities broker registered with an exchange, and any other activities as specified by the Capital Markets Authority.
It is worth mentioning that companies under the supervision of the Capital Markets Authority in Kuwait should comply with the Executive Bylaws of Law No. (7) of 2010 where Module Five – Securities Activities and Registered Persons – highlights guidelines that should be taken into consideration when practicing securities activities.
Module Five – Securities Activities and Registered Persons highlights the following:
|Article 1-5||Information and documents that should be submitted for applying for securities activities license|
|Appendix 6||Application for renewing securities activities license|
|Appendix 7||Application for cancelation of securities activities license|
|Appendix 10||Application for nomination for registered positions and employment positions for licensed persons in accordance with fit and proper rules|
Module Seven – Clients’ Funds and Clients’ Assets – in articles 5-3-1, 6-3-1 and 7-2 highlight the reporting system that a licensed person should consider. In addition, Module Seven – Clients’ Funds and Clients’ Assets – in article 5-4-3 and appendix 2 highlight the securities investment portfolios periodic reports to the Capital Markets Authority that should be taken into consideration.
Added value to business entities from Advisory Services for practicing Securities Services
- Provide knowledge and deep understanding of the Capital Markets Authority.
- Benefit from proven track record in similar projects.
- Ensure regulatory and organizational compliance.
Services provided by Baker Tilly
- Assist in application for obtaining securities activities license.
- Assist in application for renewing securities activities license.
- Assist in application for canceling securities activities license.
- Assist in application for nomination for registered positions and employment positions for licensed persons in accordance with fit and proper rules.
- Assist in preparation of periodic reports to Capital Markets Authority regarding securities investment portfolios.
Baker Tilly is a listed “Investment Advisor” at the Capital Markets Authority.