CMA LAW: The Capital Markets Authority Announces Reporting the Occurrence of a Crime to the Capital Markets Prosecution

The Capital Markets Authority announces reporting to the Capital Market Prosecution on 23/01/2022 occurrence of the crime stipulated in Item No. (3) of Article (126) and Item No. (3) of Article (127) of Law No. 7 of 2010 and its amendments. The defendants, (Board of Directors and Executive Management of a listed company), committed the following:

1. Provided the CMA with false information.

2. Did not provide the CMA with a number of required documents (bank account statements).

3. Refrained from providing the CMA’s employees with access to data and information that the CMA deems important to view.