Title: Capital Markets Authority Announces Reporting Suspected Crime to the Capital Markets Prosecution
Date Publish 10 June 2019
Kuwait, 10 June 2019
The Capital Markets Authority announces reporting to the Capital Markets Prosecution on 09/06/2019 suspected occurrence of the crime provided for in Clause (1) of Article (127) of Law No. (7) of 2010 and its amendments against one of the companies. The defendant did not allow the CMA staff to view some statements and information that are of an importance to the CMA, which hampered CMA’s supervisory works and activities. In addition, CMA reports the suspected occurrence of the crime provided for in Clauses (1, 2) of Article (63) that is considered as an offence in the provision of Article (126/1) of the same law. The defendant practiced securities brokerage and provided online trading service outside the State of Kuwait without having a license of Securities Broker that is not registered in the Securities Exchange, and practiced the activity of an Investment Advisor by providing investment advice without having a license from the CMA.
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