August 20, 2017 / 1:19 PM / a month ago

Saudi regulator approves Goldman Sachs application for dealing licence

FILE PHOTO - A Goldman Sachs sign is seen above the floor of the New York Stock Exchange shortly after the opening bell in the Manhattan borough of New York, U.S. on January 24, 2014. REUTERS/Lucas Jackson/File Photo

DUBAI (Reuters) - Saudi Arabia’s Capital Market Authority said on Sunday it had approved Goldman Sachs’ request to conduct dealing, underwriting and custody services in the kingdom.

The bank was “now authorised to conduct dealing as principal, an agent, an underwriter, managing investment funds, discretionary portfolio management, arranging, advising, and custody activities,” the regulator said in a statement.

Reporting by Tom Arnold; Editing by Andrew Torchia

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