Revocation of the license issued to the Exchange Experts for Financial Services

The Exchange Experts for Financial Services was licensed by the CMA to provide advisory services in the field of securities, in pursuance to the CMA Board resolution No. (2007-7-2) dated 12/1/1428H, corresponding to 31/1/2007. A condition of the license was that securities business should commence within twelve months of the license being granted.  .

The above mentioned company having failed to commence operations in the required period it is decided by the CMA Board this day, Monday 18/2/1429H, corresponding to 25/2/2008, to revoke the license which was granted to the company.  The decision was made pursuant to the Capital Market law which is promulgated by the Royal Decree No. (M/30), dated 2/6/1424H, and the APs regulations issued by the CMA Board under resolution No. 2005-83-1 dated 21/5/1426H, corresponding to 28/6/2005.