Saudi Arabia regulator surprises Gulf with 'hostile' warning to non-licenced firms
Capital Market Authority (CMA) of Saudi Arabia issued a strongly worded warning towards companies that operate without a license, thus surprising many people in the Gulf region. In the warning notice CMA states that non-licensed operations will be sanctioned since they are considered violating the relevant provisions of the capital market law and its implementing regulations. The problem that rises from this warning is obtaining a licence to operate in Saudi Arabia. For this purpose, an office and a minimum number of staff are required.
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