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 defendants used a website to practice securities activities (Securities Broker) without obtaining the necessary licenses from the CMA and claimed – contrary to the truth – that they hold a valid license issued by the CMA. They also used the official name and logo of the CMA within fake documents for the purpose of misleading the recipients of the veracity of the documents and with the intention of using them for different purposes in order to inflict harm to others.

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