Title: Announcement regarding issuance of Disciplinary Board Resolution No. (03/2025 Disciplinary Board) (99/2024 Authority) and imposition of a fine against: Kingdom Opportunities for General Trading Company for violating the Rules of Market Conduct

Announcement regarding issuance of Disciplinary Board Resolution No. (03/2025 Disciplinary Board) (99/2024 Authority) and imposition of a fine against: Kingdom Opportunities for General Trading Company for violating the Rules of Market Conduct.

For the following reasons:

Violation of the provision of Paragraph (c) of Item (1), Paragraphs (a) and (b) of Item (7), and Item (9) of Article (3-5) of Module Fourteen (Market Conduct) of the Executive Bylaws of Law No. 7 of 2010 and their amendments. It was proven that Kingdom Opportunities for General Trading Company, through its electronic trading account, has affected a company’s orders schedule through entering several purchase orders in large quantities and in prices less than the prevailing price in the market, in addition to executing purchase transactions in small quantities and in increasing prices that mislead the power of the purchase order register in comparison to the average trading on the share for the purpose of strengthening the consistency of the share price, and led to increasing the share price in illegal method. The mentioned transactions made by Kingdom Opportunities for General Trading Company coincided with it entering several purchase orders on the share in large quantities, most of which were not executed and therefore cancelled. Moreover, Kingdom Opportunities for General Trading Company had divided these orders which led to delivering a misleading image on the existence of several orders from traders to purchase the share in several price levels, which attracted the public market traders to purchase the security and increased the momentum on the share. As a result, the Company achieved a profit amounting to KWD 76,672.440 (seventy-six thousand, six hundred and seventy-two Kuwaiti Dinars and four hundred and forty Fils) from selling the quantity of shares that it planned to sell amounting to (27,560,326 shares) in the best prices, exploiting the prices it created after attracting the public traders to deal on the share in accordance with the artificial prices.

The Resolution included the infliction of the following penalty: -
“First: Levying a fine on Kingdom Opportunities for General Trading Company in an amount of KWD 10,000 (ten thousand Dinars) for the attributed violation.

Second: Requiring the mentioned Company to pay the amount of 76,672.439 Dinars (seventy-six thousand, six hundred and seventy-two Kuwaiti Dinars and four hundred and thirty-nine Fils), the value of profit it made as a result of the violation.

Third: Notify the Capital Market Authority’s Board of Commissioners and the concerned parties thereon”.

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.