Law Regulating Dealings in Foreign Stock Markets No. 1 of
2017
The Law Regulating Dealings in Foreign Stock Markets has now
been issued, replacing the temporary law No. 50 of 2008. The law is
comprised of eight Articles, and mainly states the following:
Article 3 of the law stipulates that engaging in the business of
dealing in foreign stock markets and brokering for the account of
others are activities solely reserved to be undertaken by Banks
(the company licensed to practise banking activities pursuant to
the provisions of the Banking Law) and Financial Services Companies
(any legal person engaged in the business of performing services as
a Financial Broker, Dealer, Investment Trustee, Investment Manager,
Financial Adviser, Underwriter, or any combination of these
functions, or any other service specified by the Commission
pursuant to this Law and the regulations, instructions and
decisions issued pursuant thereto)- and that it is prohibited
for any person other
