CMA LAW: The Capital Markets Authority Announces Filing a Report with the Prosecutor General Regarding the Occurrence of a Crime

The Capital Markets Authority announces filing a report with the Prosecutor General on 22/01/2025 regarding the occurrence of the crime stipulated in Item (2) of Article (127) of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, and amendments thereto. This is due to the failure of the defendant (a former Chairman of the Board of Directors and a former CEO of a formerly Listed Company) until the date of submitting this Report to implement a final resolution issued by the Disciplinary Board to pay the fine prescribed in Resolution No. (20/2024 Disciplinary Board – 82/2021 Authority) despite the fact that they were properly served the notice of the Resolution on November 19 and 20,  2024.

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