Title: Announcement regarding issuance of Disciplinary Board Resolution No. (87/2022 Disciplinary Board) (46/2022 Authority) and the imposition of a fine against: Hayat Invest Company for violating the rules of Securities Activities and Registered Persons

Announcement regarding issuance of Disciplinary Board Resolution No. (87/2022 Disciplinary Board) (46/2022 Authority) and the imposition of a fine against: Hayat Invest Company for violating the rules of Securities Activities and Registered Persons.

For the following reasons:

Provision of Article (3-2-11) of Module Five (Securities Activities and Registered Persons) of the Executive Bylaws of Law No. 7 of 2010 and their amendments: it was proven to the Authority that the Company did not fill the vacancy of Sharia Auditing Officer from the licensed person register on 31/07/2021, the Company did not fill the vacancy in spite of the expiration of the legal period of six months which expired on 31/1/2022 to date.

The Resolution included the infliction of the following penalty: -

“Hayat Invest Company is fined an amount of one 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.