Regulatory Alerts2014-01-01
Board of Directors Decision No. (56) of 2014
The Board of Directors of the Financial Regulatory Authority issued Decision No. (56) of 2014 mandating all licensed bond dealing, brokerage, and intermediation companies to comply with stringent technological infrastructure, information security, and daily reporting standards. The regulation requires firms to implement robust internal controls, credit and investment risk policies, and strict segregation of client and corporate accounts while maintaining minimum net liquid capital. Additionally, it stipulates mandatory experience and certification requirements for portfolio managers and key executives, and grants a three-month grace period for full compliance documentation.
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