QCB Issues
Regulations to License Financial and Investment Advisory
Services
December 12, 2017
Qatar Central Bank Governor issued a
decree on the terms and regulations required to license the
activity of financial and investment advisory services under the
provisions of Qatar Central Bank Law No. 13 of 2012 in
coordination with Qatar Financial Markets Authority and the
Ministry of Economy and Commerce.
The said regulations can be
summarized in the following three items:
First: Establish concepts and definitions of the terminology related to
the subject matter.
Second: Address licensing requirements for the activity of financial or
investment consulting services.
Third: Mechanism and stages of licensing this activity.
The resolution requires all
concerned institutions and individuals to adjust their situation
to comply with its provisions within six months from the date of
its implementation. However, the Governor may, when provided
with satisfactory justification, extend this period for another
six months.
These terms and regulations are
subject to the jurisdiction of Qatar Financial Markets
Authority. A license from the QFMA is required for any activity
regulated by the Authority’s Law No. 8 of 2012.
The issuance of these terms and
regulations marks the achievement of one of the objectives of
the country’s strategic plan for the financial sector, a plan
consistent with Qatar Vision 2030.
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