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Title: Announcement Regarding Issuance of Disciplinary Board Resolution
Date Publish
20 April 2016
Capital Markets Authority announces issuance of a Disciplinary Board Resolution passed in its meeting held on Thursday 21/4/2016 on violation No. (16/2016 Disciplinary Board) (37/2016 Authority) filed against: KFIC Financial Brokerage Co.
That is by "warning the Company due to exceeding the legal deadline of notifying the CMA of canceling the Registered Employment Positions".
This punishment is due to, the Company's violation of Articles (3-2-10) of Module Five (Securities Activities and Registered Persons) of the Executive Bylaws of Laws No. 7 of 2010 and its amendments, which corresponds to Article (143/3) of the canceled Bylaws on the Establishment of the Capital Markets Authority, for not notifying the CMA of canceling the registration of persons registered in the Registered Employment Positions during the legal period.
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.
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