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. (1/2015) passed in its meeting on Tuesday 20/1/2015 on violation No. (101/2014 - Authority) filed against: First Investment Company (Al Oula).

That is by "warning the Company of the consequences of repeating to violate the Authority's regulations regarding Disclosure".

This punishment is due to, the Company's violation of Article (146/2) of Law No. (7) of 2010, which is the violation of the Disclosure of Material Information Regulations.

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 practices.      

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