Goldman Sachs applies for Saudi equities trading license: sources | Reuters

Goldman Sachs applies for Saudi equities trading license: sources | Reuters:

"Goldman Sachs (GS.N) has applied to Saudi Arabia's capital markets regulator for a license to trade equities in the kingdom, two sources familiar with the move said, in the latest step by Western banks to expand operations in the country. Goldman has made the application to the Capital Market Authority (CMA) and a successful outcome could lead to a further expansion of its business in the kingdom, one of the sources said. Goldman has been operating in Saudi Arabia since 2009 as an agent and underwriter. In 2014, the Saudi Capital Market Authority approved a change in the bank's profile and it has been authorized to arrange, advise and manage investment funds and portfolios, according to its website."



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