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Title: Announcement Regarding Issuance of Disciplinary Board Resolution on Violation No. (67/2020 Disciplinary Board) (87/2020 Authority)
Date Publish 07 January 2021

The Capital Markets Authority announces the issuance of Disciplinary Board Resolution passed in its meeting held on Thursday 07/01/2021 on violation No. (67/2020 Disciplinary Board) (87/2020 Authority) filed against:

Emad Jasem Alsaqer – Chairman of the Board of Directors of Gulf Petroleum Investment Company.


He violated the provision of Clause (c) of Article (1-15) of Module Twelve (Listing Rules) 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 3000 for failing to submit the financial statements.”


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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