CmaBoardReleases
Title: Announcement regarding issuance of Disciplinary Board Resolution No. (01/2022 Disciplinary Board - Grievances) (08/2021 Boursa Kuwait Violations Committee). The Resolution includes canceling the Committee’s decision against KFH Financial Brokerage Company for its violations of the provisions of the last paragraph of Article (4-26-2) of Boursa Kuwait Rulebook
Announcement regarding the issuance of Disciplinary Board Resolution No. (01/2022 Disciplinary Board – Grievances) (08/2021 Boursa Kuwait Violations Committee). The Resolution includes canceling the Committee’s decision against KFH Financial Brokerage Company for its violations of the provisions of the last paragraph of Article (4-26-2) of Boursa Kuwait Rulebook.
This is for violating Boursa Kuwait Rulebook by trading the securities it owns. They are deposited with KFH Financial Brokerage Company, which is authorized to manage. The broker did not notify the Securities Exchange of the details of these transactions on the specified date. This is obligatory according to the provision of the last paragraph of Article (4-26-2) of Boursa Kuwait Rulebook.
The Resolution included the following:-
“First: Acceptance of the grievance in form.
Second: - On the subject of rescinding the decision to cancel the transactions subject of the aforementioned violation, described and quantified by investigations, considering it null and void, and erasing the effects that resulted from it, and supporting the other matters”.
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 Laws 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.