The Financial Services Authority (FSA) has issued Administrative Sanction Decision No. (13/2026), revoking the licence granted to Thara Global Business LLC to operate in the securities sector and removing the company from the register of companies operating in the securities sector. The decision was taken due to the company’s failure to meet the minimum capital and shareholders’ equity requirements stipulated in the Executive Regulations of the Capital Market Law.

The decision was based on Article (125) of the Executive Regulations of the Capital Market Law, issued under Decision No. (1/2009), and Article 58(i) of the Securities Law, promulgated by Royal Decree No. (46/2022). It followed the company’s failure to regularise its status in accordance with the legal requirements within the grace period granted to it.

On 10 February 2026, the FSA had issued Administrative Decision No. (2/2026), temporarily suspending the company’s licence to conduct its activities for a period of three months. The suspension was intended to give the company an opportunity to regularise its status and meet the legal requirements relating to minimum capital and shareholders’ equity. However, the company failed to fulfil these requirements during the suspension period, resulting in the revocation of its licence and its removal from the Authority’s register.

The FSA affirmed the need for companies operating in the securities sector to maintain continuous compliance with licensing and financial solvency requirements, as these are fundamental to ensuring the sound conduct of licensed activities and strengthening confidence in the capital market. It also affirmed that it will continue to take the necessary regulatory measures in accordance with applicable legislation to promote discipline and compliance across the sector.