Principles to Register Natural Persons to Carry out Licensed Financial Services Activities by the Commission for the year 2013

First: A “Natural Person” wishing to obtain a license to carry out the activities of Investment Management, Financial Consultancies & Investment Trusteeship shall have the following:

1. Hold at least, a Bachelor Degree in any of the following fields of study: Economics or Finance or Accounting or Business Administration, or be a holder of a Certified Financial Analyst (CFA) certificate.
2. Successfully pass the Commission’s examination.
3. A “Natural Person” having less than five years of experience in the applied for registration, shall attend the Commission’s Training Program. 
4. A “Natural Person” having more than five years of experience in the applied for registration, or holding a Master’s or a PhD’s Degree in any of the following fields of study: Economics or Finance or Accounting or Business Administration, or holding  a (CFA) shall be exempted from attending the Commission’s  Training Program.

Second: A “Natural Person” wishing to obtain a license to carry out the activities of Custodianship shall have the following:

1. Hold at least, a Bachelor Degree in the following fields of study: Economics or Administrative & Financial Sciences. 
2. A “Natural Person” shall not have less than three years of experience in the applied for registration. Shall hold a (CFA), or have successfully passed the Commission’s examination of the Investment Advisor Training & Certification Program.

Third: A “Natural Person” wishing to obtain a license to carry out the activities of Issuance Management & Issuance Trusteeship shall have the following:

1. Hold at least, a Bachelor Degree in the following fields of study: Economics or Administrative & Financial Sciences, or be a holder of a (CFA), or Law. 
2. A “Natural Person” shall not have less than three years of experience in the applied for registration. In case this exists, he shall attend the Commission’s Training Program & successfully pass its examination.

Fourth: A “Natural Person” wishing to obtain a license to carry out the activities of a Compliance Officer shall have the following:

1. Be familiar with all laws, regulations & instructions relevant to the capital market, particularly the Securities Law & all instructions & decisions issued pursuant thereto.
2. Hold at least, a Bachelor Degree in the following fields of study: Economics or Administrative & Financial Sciences or Law, or be a holder of a (CFA).
3. A “Natural Person” years of experience, shall not be less than two years in issues relevant to the capital market.
4. The Compliance Officer shall have full autonomy from all the company’s other positions. 
5. Attend the Commission’s Training Program & successfully pass its examination.

Fifth: A “Natural Person” wishing to obtain a license to carry out the activities of a Financial Brokerage shall have the following:

1. Hold at least, a Bachelor Degree in the following fields of study: Economics or Administrative & Financial Sciences.  
2. Be familiar with all laws, regulations & instructions relevant to the capital market, particularly the Securities Law & all instructions & decisions issued pursuant thereto.
3. Attend the Commission’s Training Program & successfully pass its examination.

Sixth: The Board of Commissioners may exempt any Registered Person from holding a Bachelor Degree in any field of study to carry out the financial services applied for & cited previously, shall he has at least seven years of experience in the applied for registration.