October 19, 2021
The Capital Markets Authority Board issued a decision to cancel the license of “Royal Financials S.A.L.” to engage in securities business related to “dealing”, “advising”, “arranging” and “managing” activities. The CMA delisted the company from the list of licensed financial intermediation institutions issued by the CMA.
This development is related to the number of complaints submitted by the company’s clients, its non-compliance with the terms and requirements of the license granted to it, and its violation of the regulations issued by the Capital Markets Authority, especially in relation to the violation of Announcement No. 71 dated 7/4/2021.