Title: Announcement Regarding Issuance of Disciplinary Board Resolution on Violation No. (8/2020 Disciplinary Board) (143/2019 Authority)
Date Publish 20 February 2020
The Capital Markets Authority announces the issuance of Disciplinary Board Resolution passed in its meeting held on Thursday 20/02/2020 on violation No. (8/2020 Disciplinary Board) (143/2019 Authority) filed against:
Al-Madar Finance & Investment Company.
The Company violated the following:
- It did not disclose a material information at the right time at Boursa Kuwait and the Capital Markets Authority.
- It did not disclose the invitation for the meeting of its Board of Directors No. (4/2019) held on 05/05/2019.
Therefore, the resolution was issued: “The Company is fined an amount of KWD 5000 for violating the rules of disclosure of material information.”
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.
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