The following acts shall be included amongst the Violations, for which any Person shall be accountable in a disciplinary manner. The Disciplinary Board shall be entitled to apply financial penalties or other Penalties if any of the following acts is committed. 1. Entering, cancelling, or amending orders consecutively and intensively to achieve the following: a. Obstruct or delay the trading system in the Exchange. b. Make entry or follow-up of orders in the trading system more difficult. c. Mislead traders concerning trading or price of a listed Security. 2. Entering orders on a listed Security at a price higher than the execution price of such security upon entering the order or at a price less than the execution price of such security upon entering the order, so as to affect the price of such Security. 3. Spreading, broadcasting, or promoting rumours or giving misleading and incorrect data, information and statements, which may affect the prices and trading of Securities. 4. Entering orders of sell or purchase on a listed Security by an Insider, personally or through another Person, while such insider is possessing Inside Information about such Security, even if such orders could not be executed for other reasons not related thereto. 5. Entering orders of sell or purchase on a listed Security by a Person, in himself or through another Person, for the purpose of committing acts set out in Article (3-3) of this Module to create an actual or fictitious trading to encourage others to sell or purchase, even if such orders could not be executed for other reasons not related thereto. 6. Giving an opinion, an advice, or a recommendation which may affect the price or trading of a listed Security for the purpose of attaining a benefit or an interest for such person without disclosure of such opinion, advice, or recommendation. 7. Entering one or more orders on a listed Security, then cancelling such orders directly prior to execution, and repeating such transaction with large quantities of Securities that affect the real status of the prices of demand and supply on such security, if it turned out that such act is intended to: a. Encourage traders to sell or purchase the listed Security. b. Increase or decrease the price of a listed Security. 8. Entering orders or executing transactions excessively by the Licensed Person on the account of the Client for the benefit of the Licensed Person without any benefit proper to concluding such transactions for the Client. 9. If the same Person concludes transactions in a frequent and contradictory manner, and at convergent times, and with a rate that influence the trading of a listed Security, especially if this is associated with a noticeable market change on the price of such security, excluding the Market Maker who carries out its activity in accordance with rules governing its activity. 10. Entering one or more orders or concluding trading transactions, based on reviewing data, reports, or analyses, which may affect the price of a listed Security prior to announcing the same for the Clients or in the means of communication available for the public. 11. Entering orders or concluding transactions on a listed Security while in possession of information undisclosed to the public relevant to a company belonging to the same Group of the company which issued the Security subject of the order or deal, if such information may affect the price or trading of the Security subject of the order or deal. 12. Entering orders or concluding transactions on a Security listed outside the State of Kuwait in order to affect the price of the same security in the Exchange and encourage others to sell or purchase. 13. Any other practices aiming to mislead traders on Securities.