AUTHORISED PERSONS REGULATIONS

Release Date:	1426-05-21
Release Tool:	Councils and commissions decisions
Issuance Instrument Number:	2005-83-1
Validity:	Cancelled
Date of last amendment:	1438-12-27
Summary:	By AI Article 99 of the Regulation governs the management of client funds and assets by licensed entities, where these assets are considered the property of the clients and must be kept separate from the assets of the licensee. The licensee is required to deposit client funds into their accounts within one day and to maintain accurate records. The use of client funds requires prior approval and notification of potential risks. The Regulation emphasizes the need for periodic reconciliations and verifi...

Release Date:

1426-05-21

Release Tool:

Councils and commissions decisions

Issuance Instrument Number:

2005-83-1

Validity:

Cancelled

Date of last amendment:

1438-12-27

Summary:

By AI

Article 99 of the Regulation governs the management of client funds and assets by licensed entities, where these assets are considered the property of the clients and must be kept separate from the assets of the licensee. The licensee is required to deposit client funds into their accounts within one day and to maintain accurate records. The use of client funds requires prior approval and notification of potential risks. The Regulation emphasizes the need for periodic reconciliations and verifi...