CMA seeks feedback on amending Article 77 of Capital Market Institutions Regs

Logo of Capital Market Authority (CMA)

The Capital Market Authority (CMA) called for input from all interested parties and participants in the local capital market on the draft amendment to Article 77 of the Capital Market Institutions Regulations, which relates to returns on client funds deposited in the client’s account with those institutions.

According to an authority statement today, May 22, the draft bill aims to develop the provisions of Article 77 in order to enable industry clients to benefit from the funds in their investment account by investing them in investment products and receiving returns on them.

The development contributes to enabling capital market institutions to provide a service to the clients on their deposited funds, benefitting from them in a way that enhances the market’s liquidity while also expanding the scope of these institutions’ participation in investment products.