Title: Announcement regarding issuance of Disciplinary Board Resolution No. (30/2025 Disciplinary Board) (69/2025 Authority) and imposition of a fine against: International Financial Advisors Holding Company (IFA) for violating the Rules of Disclosure and Transparency

Announcement regarding issuance of Disciplinary Board Resolution No. (30/2025 Disciplinary Board) (69/2025 Authority) and imposition of a fine against: International Financial Advisors Holding Company (IFA) for violating the Rules of Disclosure and Transparency

For the following reasons:
1- Violation of the provision of Article (4-2-1) of Module Ten (Disclosure and Transparency) of the Executive Bylaws of Law No. 7 of 2010 and their amendments:

It was proven to the CMA that the company delayed in disclosing some material information.

2- Violation the provision of item (3) of Article (6-3) of Module Ten (Disclosure and Transparency) of the Executive Bylaws of Law No. 7 of 2010 and their amendments:

It was proven to the CMA that the company signed a contract with .... company on 16/05/2023 to undertake risk management tasks, noting that the member of the Board of Directors and Chairman of the Risk Committee at the company simultaneously holds executive duties at ..... company, which may result in a conflict of interest and contradict the principle of independence of the aforementioned management.

The Resolution included the infliction of the following penalty: -
“Levying a fine on International Financial Advisors Holding Company (IFA) in the amount of KWD 5,000 (five thousand Dinars) for the first violation, and the amount of KWD 20,000 (twenty thousand Dinars) for the second 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.