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

Capital Markets Authority announces the issuance of a Disciplinary Board Resolution on Thursday 17/7/2014 under violation No. (58/2013) Disciplinary Board.

Filed against:

1) Ahmad Mohammed Ali Hassan.  2) Anwar Mohammed Dawood Al-Shoail.    3) Jaafer Shareef Maseer Jandeel.  4) Ahmed Rajab Khodhair Saleh. 5) Broker/ Nora Salem Al-Romi – From Union Securities Brokerage Company.   6) Union Securities Brokerage Company.

The Board Resolved the Following:

First: Suspending defendants from the first to the fourth 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 which were made on 16/1/2013 if possible, and according to the period, conditions, and controls set forth by the Authority without harming the rights of parties acting in good faith.

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

Third: Retaining the case of the sixth defendant.

Fourth: Notifying the concerned parties with this Resolution. 

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