CMA LAW: Announcement regarding issuance of Disciplinary Board Resolution No. (08/2025 Disciplinary Board) (07/2025 Authority) and imposition of a fine against: Jiyad Holding Company for violating the Rules of Disclosure and Transparency.

Announcement regarding issuance of Disciplinary Board Resolution No. (08/2025 Disciplinary Board) (07/2025 Authority) and imposition of a fine against: Jiyad Holding Company for violating the Rules of Disclosure and Transparency.

This is due to violating the provision of Item (2) of Article (3-5-1) of Module Ten (Disclosure and Transparency) of the Executive Bylaws of Law No. 7 of 2010 and their amendments. The Company did not disclose within five business days the change of the Company’s insiders in its two letters dated 30/10/2024 and 17/12/2024 regarding its disclosure in accordance with Appendix (5) “Corporate Insiders Watch List Form and its Updates” of Module Ten of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities concerning the update of the insiders watchlist. The Company requested to cancel the name of the Board of Directors’ Secretary from the Company’s insiders watchlist as of October 30, 2024; however, reviewing  the Company’s insiders watchlist at the CMA’s register revealed that the name of the mentioned insider was not registered within the Company’s insiders watchlist, which indicates the Company’s non-compliance with adding the name of the mentioned insider prior to the Company’s insiders watchlist and its non-compliance with updating the insiders watchlist within five business days from the occurrence of this change.

The Resolution included the infliction of the following penalty: -
“Levying a fine on Jiyad Holding Company in the amount of KWD 3,000 (three 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 Laws 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.