المادة 105: Distributor Responsibilities

Article 105: Distributor Responsibilities

The distributor of securities issued by a foreign fund must comply with the followings:

1) Sending all reports and documentation issued by the foreign fund manager to the securities holders in the Kingdom. And ensuring that all securities holders within the Kingdom in a foreign fund shall be directly entitled to the rights prescribed in the fund documentation.

2) Notifying all securities holders in writing of all fundamental changes related to the foreign fund.

3) Conveying all requests and letters of securities holders within the Kingdom to the foreign fund manager.

4) Notifying the securities holder in the kingdom (90) days prior to the termination of the relationship with the foreign open-ended fund manager.

5) Taking all appropriate actions to ensure continuity of relationship with the manager of the closed-ended foreign fund until the end of the fund’s term.

6) Notifying the Authority and the securities holders, in writing, of the fund's termination within (10) days from the end of the fund term in accordance with the requirements in Paragraph (d) of Annex (10) of these Regulations