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Title: Announcement Regarding Issuance of Disciplinary Board Resolution on Violation No. (4/2020 Disciplinary Board) (156/2019 Authority)
Date Publish 18 February 2020


The Capital Markets Authority announces the issuance of Disciplinary Board Resolution passed in its meeting held on Tuesday 18/02/2020 on violation No. (4/2020 Disciplinary Board) (156/2019 Authority) filed against:

Shuaiba Industrial Company

The Company violated the following provisions:

First: Paragraph (b,c,e) of Item (1) of Appendix (1) “Real Estate Assets Valuation” of Module Eleven (Dealing in Securities) of the Executive Bylaws of Law No. (7) of 2010 and their amendments.

Second: Paragraph (b) of Item (2) of Appendix (1) “Real Estate Assets Valuation” of Module Eleven (Dealing in Securities) of the Executive Bylaws of Law No. (7) of 2010 and their amendments.

Therefore, the resolution was issued: “the Company is fined an amount of KWD 5000 for what was committed, for failing to provide two valuations for its real estates in the financial year that ended in 31/12/2018.” 

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.

Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.
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