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

The Capital Markets Authority announces filing a report with the Prosecutor General on 14/02/2024 regarding the occurrence of the crime stipulated in Item (1) of Article (127) of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, and amendments thereto. This is due to the failure of the defendant (a listed Company) to enable the CMA’s employees to access data and information deemed necessary by the CMA. The defendant failed to provide the CMA with the nature of intercompany transactions that took place between the defendant and an associate company and their details, as well as not providing the CMA with a copy of the settlement agreement that took place between the defendant and the associate company.

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