Draft Investment Accounts Instructions Issued by Saudi Arabian Capital Market Authority for Public Consultation
Client Alert | 1 min read | 01.15.16
As part of the efforts of the Saudi Arabian Capital Market Authority (the CMA) to develop the Saudi Arabian capital market and protect investors, and pursuant to the Capital Market Regulations as enacted by Royal Decree Number M/30 dated 2/6/1424 H / 1 August 2003, the Board of the CMA has published draft Investment Accounts Instructions (the Draft Instructions) on the CMA's website to allow concerned and interested parties to provide their comments and observations.
The Draft Instructions aim to regulate the opening and operation of investment accounts held by authorized persons licensed to undertake dealing, managing, or custody activities and to define the related investment account controls and supervisory rules.
The CMA will accept comments and observations on the Draft Instructions via email to Rules.Regulations@cma.org.sa no later than Monday 29/4/1437 H / 8 February 2016. The CMA notes that it will study and consider all comments and observations prior to issuing final Instructions.
Insights
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The United States Trademark Trial and Appeal Board (TTAB or Board) recently issued a refreshed opinion in the trademark dispute Naterra International, Inc. v. Samah Bensalem, where Naterra International, Inc. petitioned the TTAB to cancel Samah Bensalem’s registration for the mark BABIES' MAGIC TEA based on its own BABY MAGIC mark. On remand from the U.S. Court of Appeals for the Federal Circuit, the TTAB reconsidered an expert’s opinion about relatedness of goods based on the concept of “umbrella branding” and found that the goods are unrelated and therefore again denied the petition for cancellation.
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