Title: Announcement regarding issuance of Disciplinary Board Resolution No. (19/2024 Disciplinary Board) (05/2024 Authority) and imposition of a warning against: Jassim Transport & Stevedoring Company for violating the rules of Disclosure and Transparency

Announcement regarding issuance of Disciplinary Board Resolution No. (19/2024 Disciplinary Board) (05/2024 Authority) and imposition of a warning against:  Jassim Transport & Stevedoring Company for violating the rules of Disclosure and Transparency

For violating the following:
1) The provision of Item No. (10) of Article (4-1-1) of Module Ten (Disclosure and Transparency) of the Executive Bylaws of Law No. 7 of 2010 and their amendments, it was proven to the Authority the Company’s failure to disclose signing three impactful Credit Facility Agreements.

The Resolution included the infliction of the following penalty: -

“First: Levying a warning against Jassim Transport & Stevedoring Company for the attributed violation with consideration that it does not repeat it in the future”. 

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.