CmaBoardReleases
Title: Announcement regarding issuance of Disciplinary Board Resolution No. (20/2022 Disciplinary Board) (197/2021 Authority) and the imposition of a fine against: Ektettab Holding Company for violating the Rules of Disclosure and Transparency
Announcement regarding issuance of Disciplinary Board Resolution No. (20/2022 Disciplinary Board) (197/2021 Authority) and the imposition of a fine against: Ektettab Holding Company for violating the Rules of Disclosure and Transparency.
For the following reasons:
Provision of Item (17) of Article (4-1-1) of Module Ten (Disclosure and Transparency) of the Executive Bylaws of Law No. 7 of 2010 and their amendments for its failure to disclose the following material information in Boursa Kuwait:
It executed transactions of selling its investments included in the item of financial investments in the fair value through the other comprehensive income in a total value of 1,520,595 KWD (one million, five hundred and twenty thousand, and five hundred and ninety-five Kuwaiti Dinars).
The Resolution included the infliction of the following penalty: -
“Ektettab Holding Company is fined an amount of twenty thousand Dinars for the attributed violations.”
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.