CMA LAW: The Capital Markets Authority Announces Reporting the Occurrence of a Crime to the Capital Market Prosecution

The Capital Markets Authority (CMA) announces submitting a report to the Attorney General on 26/03/2023 regarding the occurrence of the crimes stipulated in Article (63) of Law No. 7 of 2010 and its amendments, criminalized by Item (1) of Article (126) of the same Law, and Article (125) of Law No. 7 of 2010 and its amendments, and Articles No. (231 and 257) of Law No. 16 of 1961 promulgating the Penal Code. The defendant used a website to practice securities activities (Securities Broker) without obtaining the necessary licenses from the CMA and claimed – contrary to the truth – that he holds a valid license to practice securities activities issued by the CMA. He also used the official name and logo of the CMA within a fake document for the purpose of misleading the recipient of the veracity of the document and with the intention of using it for a different purpose in order to inflict harm to others.

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