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. (19/2014) Disciplinary Board.

Filed against: 1- Jaafer Shareef Maseer Jandeel. 2- Essam Ibrahim Bukhamseen being the natural guardian of his minor son (Bader). 3- Ahmad Mohammed Ali Hassan. 4- Broker/ Ahmad Ismael Al-Fodari. 5- Union Securities Brokerage Company.

The Board Resolved the Following:

First: Suspending defendant from the first to the third from trading; direct or indirect purchasing and/or selling, whether for their 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 fourth defendant from practicing brokerage for three months.

Third: Alerting the fifth defendant.

Fourth: Notifying the concerned parties with this Resolution.