CMA LAW: The Capital Markets Authority Announces Filing a Report with the Prosecutor General Regarding the Occurrence of a Crime

The Capital Markets Authority announces filing a report with the Prosecutor General on 26/06/2024 regarding the occurrence of the crime stipulated under Article No. (125) of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, and Item (5) of Article (21) of Law No. 3 of 2006 Regarding Press and Publications, and as penalized by Article (6) of Law No. (63) of 2015 Regarding Combating Cybercrimes. On 11/06/2024, the defendant, through his account on the social media platform “X” (formerly Twitter), posted a tweet containing a false claim that the CMA had taken an action that it did not actually take, casting doubt on the integrity of the Capital Markets Authority’s procedures, which would place the CMA in a position of doubt and suspicion, negatively impacting its reputation as a regulatory body overseeing securities activities and is trusted by all market participants, , responsible for their protection. Such actions could undermine confidence in the country’s economic situation.

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