CMA LAW: Announcement Regarding the Issuance of a Disciplinary Board Resolution

Announcement Regarding the Issuance of a Disciplinary Board Resolution

The Capital Markets Authority announces the issuance of the Disciplinary Board Resolution No. (8/2015) passed in its meeting on Thursday 12/2/2015 on violation No. (99/2014 - Authority) filed against: Kuwait Stock Exchange.

That is by "notifying Kuwait Stock Exchange of the importance of observing quality and efficiency in its functions and transactions".

This punishment is due to, the defendant company's violation of Article 38/1 of Law No. (7) of 2010 on the Establishment of the Capital Markets Authority and Regulating the Securities' Activity, for not observing accuracy and diligence in an efficient manner when publishing the statement concerning the resolutions issued by the General Assembly of a certain company.

In this regard, the CMA emphasizes the implementation of CMA Law and its Executive Bylaw 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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