CmaBoardReleases
Title: Announcement regarding issuance of Disciplinary Board Resolution No. (48/2022 Disciplinary Board) (216/2021 Authority) and imposition of a fine against Asiya Capital Investments Company for violating the rules of Securities Activities and Registered Persons
Announcement regarding issuance of Disciplinary Board Resolution No. (48/2022 Disciplinary Board) (216/2021 Authority) and imposition of a fine against Asiya Capital Investments Company for violating the rules of Securities Activities and Registered Persons.
For the following reasons: violating provision of Article (3-2-11) of Module Five (Securities Activities and Registered Persons) of the Executive Bylaws of Law No. 7 of 2010 and their amendments. This is due to the Company’s cancellation of the registration of its Senior Executives position since 01/04/2021 without filling this position to date, despite the expiration of the legally specified period of six months for filling the vacancy on 01/10/2021.
The Resolution included the infliction of the following penalty: -
“Asiya Capital Investments Company is fined an amount of two thousand Dinars for the attributed violation”.
In this regard, the CMA emphasizes the implementation of CMA Law and its Executive Bylaws on all persons dealing in securities activities, and urges them to comply with these rules in order to promote investors' confidence, create a sound investment environment, and implement the Law according to the principles of fairness, transparency, and integrity in line with the best international practice.
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