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

The Capital Markets Authority announces the issuance of a Disciplinary Board Resolution on Thursday 6/11/2014 under violation No. (20/2014) Disciplinary Board.

Filed against: 1- Ahmed Rajab Khodhair  2- Nora Salem Sulaiman Al-Romi – from Al-Waseet Financial Business Company.

The Board Resolved the Following:

First: Suspending the first defendant from trading; direct or indirect purchasing and/or selling, whether for his own account or for the account of others for six months, and ordering to cancel the deals related to the violation, if possible, pursuant to the conditions and controls set forth by the Authority without harming the rights of parties acting in good faith.

Second: Suspending the second defendant from practicing brokerage for three months.

Third: Notifying the concerned parties with this Resolution.