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

The Capital Markets Authority (CMA) announces filing a report with the Prosecutor General on 24/12/2023 regarding the occurrence of the crime stipulated in Article No. (125) of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, the crime stipulated in Article (209) of Law No. 16 of 1960 promulgating the Penal Code, Item (5) of Article (21) of Law No. 3 of 2006 Regarding Press and Publications, and Article (18) of Law No. 8 of 2016 Regarding the regulation of electronic media. The first defendant, through his verified account on the social media platform “X” (formerly known as Twitter), published several defamatory post on 14/11/2023, containing false claims about the CMA. The post falsely alleged that the CMA carries out its work with inconsistency, double standards favoritism towards certain parties. Accordingly, the second defendant, owner of a verified account on the social media platform “X” (formerly known as Twitter) reposted the previous post during the same period. This would undermine the country’s economic situation.

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