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CMA LAW: Announcement Regarding the Issuance of Disciplinary Board Resolution
Date Publish
13 December 2015
Announcement Regarding the Issuance of Disciplinary Board Resolution
Capital Markets Authority announces the issuance of a Disciplinary Board Resolution passed in its meeting held on Thursday 10/12/2015 on violations No. (43/2015 Disciplinary Board) (126/ 2015 Authority) filed against:
Agility Public Warehousing Company.
That is by "cautioning the Company of the consequences of violation recurrence regarding disclosure and transparency provisions".
This punishment is due to, its violation of Clause (14) of Article No. (4-1-1) and Article (4-4-1) of Module 10 (Disclosure & Transparency) of the Executive Bylaws, for not disclosing the material information related to lodging five cases by Kuwait General Administration of Customs against a subsidiary of Agility Company requesting it to pay a total of KD 120000071, and not commenting on the news published in a local newspaper on 16/9/2015 which referred to such allegations.
In this regard, the CMA emphasizes the implementation of CMA Law and its Executive Bylaws 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 practice.
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.
