CMA LAW: Announcement regarding issuance of Disciplinary Board Resolution No. (40/2024 Disciplinary Board) (01/2024 Complaint) and imposition of a fine against NCM Investment Company, for Violating the Rules of Conduct of Business

Announcement regarding issuance of Disciplinary Board Resolution No. (40/2024 Disciplinary Board) (01/2024 Complaint) and imposition of a fine against NCM Investment Company, for Violating the Rules of Conduct of Business 

For the following reasons:
The Company violated the provisions of Articles (2-2-1), (2-3) and (2-7) of Module Eight (Conduct of Business) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, and their amendments.

The Resolution included the infliction of the following penalty: -
" Levying a Fine on the complainant NCM Investment Company in the amount of KWD 5,000 (five 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.
 

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