Riyadh – Mubasher: The Capital Market Authority (CMA) gave the green light for cancelling the license granted to SICO Financial Saudi Company to managing private non-real-estate investment funds as well as sophisticated investor portfolios activities in the securities business.
The cancellation was based on SICO Financial Saudi’s request, the Saudi Exchange (Tadawul) announced on Monday.
The CMA also approved to change the name of Muscat Capital Company, a capital market institution licensed to conduct securities business in Saudi Arabia.
Tadawul noted that SICO Financial Saudi was licensed by the CMA in 2019 and has not commenced its business yet.
