CmaBoardReleases
Title: Announcement Regarding Issuance of Disciplinary Board Resolution on Violation No. (67/2018 Disciplinary Board) (116/2018 Authority)
The Capital Markets Authority announces issuance of a Disciplinary Board Resolution passed in its meeting held on Thursday 04/10/2018 on violation No. (67/2018 Disciplinary Board) (116/2018 Authority) filed against:
Q8 Securities Co.
“The Company shall be fined KWD 5,000 for using the official logo of the Authority in means of marketing and promotional advertising.”
The punishment is due to violating the provision of Circular (8) of 2018 issued on 29/05/2018, for using the official logo of the Authority on “Kuwait Trade” website on 29/7/2018 which is after the issuance of the circular mentioned above, as well as its claim that Kuwait Trade is a licensed broker by the Authority.
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.
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