CMA LAW: Announcement regarding issuance of Disciplinary Board Resolution No. (10/2024 Disciplinary Board) – (168/2023 Authority) and imposition of a fine against: Jiyad Holding Company for violating the Listing Rules.

Announcement regarding issuance of Disciplinary Board Resolution No. (10/2024 Disciplinary Board) – (168/2023 Authority) and imposition of a fine against: Jiyad Holding Company for violating the Listing Rules.

For the following reasons:
Violating the provisions of Item (1) of Article (1-16-1) of Module Twelve (Listing Rules) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments. 

It was proven to the CMA in a strict manner that Jiyad Holding Company (to date) failed to submit to the Authority a copy of its periodical financial statements for the financial period ending on 30/9/2023 within forty-five days from the end date of period in which the periodical financial statements were prepared, which ended on 14/11/2023, to date.

The Resolution included the infliction of the following penalty: -
“Levying a fine on Jiyad Holding Company in an amount of KWD 1,000 (one thousand Dinars) for the attributed violation.

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 Laws 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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