CMA LAW: The Capital Markets Authority Announces Filing a Report with the Prosecutor General Regarding the Occurrence of a Crime

The Capital Markets Authority announces filing a report with the Prosecutor General on 18/01/2024 regarding the occurrence of the crime stipulated in Item (1) of  Article (126) of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its amendments according to Article (63) of the same law. The defendant performed the following:

1. Provided the service of asset valuator, without obtaining the required license from the CMA, by preparing reports and analyses that included determining the fair value of a company’s stake in a project in exchange for a commission.

2. Announcing on its website that it practices the activities of investment advisor and subscription agent without obtaining a license from the CMA to practice these activities.

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