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. (42/2014) passed in its meeting on Thursday 13/1/2015 on violation No. (20/2014 - Complaint) filed against: 1) Habib Mohammad Taqi Behbehani; and  2) AL-Hafez Commercial Establishment.

That is by "notifying the defendants of the necessity to comply with the Disclosure Rules".

This punishment is due to, the defendants' delay in disclosing the required information within the legal period as required under Article (384) of the Executive Bylaw of Law No. (7) of 2010.

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.      

Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.