Regulatory Alerts2019-01-01
Board of Directors Decision No. (159) of 2019 Regarding the Temporary Suspension of Securities Portfolio Formation and Management Activities for Odin Financial Investments Company
The General Authority for Financial Supervision (GAFI) issued Decision No. 159 of 2019 to temporarily suspend Odin Financial Investments Company’s license for forming and managing securities portfolios for a fixed period of one year. This binding regulatory measure, ratified by the Authority’s Board of Directors on November 21, 2019, requires the firm to immediately halt these specific licensed activities upon the decision’s effective date. The suspension will automatically lift the day after the one-year term expires, with the decision published on the Authority’s website to ensure compliance by all relevant enforcement bodies.
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