CmaBoardReleases
Title: Announcement regarding issuance of Disciplinary Board Resolution No. (15/2022 Disciplinary Board) (151/2021 Authority) and the imposition of a fine against: KFH Capital Investment Company for violating the Rules Clients’ Funds and Clients’ Assets.
Announcement regarding issuance of Disciplinary Board Resolution No. (15/2022 Disciplinary Board) (151/2021 Authority) and the imposition of a fine against: KFH Capital Investment Company for violating the Rules Clients’ Funds and Clients’ Assets.
For violating the provision of Item (4) of Article (5-2-3) of Module Seven (Clients’ Funds and Clients Assets) of the Executive Bylaws of Law No. 7 of 2010 and their amendments. The company did not take any measures towards the securities investment portfolio of the deceased client, which is still standing.
The Resolution included the infliction of the following penalty: -
“KFH Capital Investment Company is fined an amount of five thousand Dinars for the attributed violation.”
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.