Title: Announcement Regarding the Issuance of a Disciplinary Board Resolution

Announcement Regarding the Issuance of a Disciplinary Board Resolution

The Capital Markets Authority announces the issuance of the Disciplinary Board Resolution No. (4/2015) passed in its meeting on Thursday 29/1/2015 on violation No. (21/2014 - Complaint) filed against: National Finance Brokerage Company (Al-Wataniya).

That is by "warning the Company of the consequences of repeating the violation".

This punishment is due to, the defendant company's violation of Article (195) of the Executive Bylaw of Law No. (7) of 2010, which stipulates that " The licensed person shall prepare and maintain proper internal control records and procedures with regard to any authorization granted to him for an account in the name of a client, and ensure that all deals concluded in accordance with the authorization are within the scope of authorities granted to him and that he has the appropriate procedures to give and receive instructions under the authorization."

In this regard, the CMA emphasizes the implementation of CMA Law and its Executive Bylaw on all persons dealing in securities' activities, and urges them to comply with these rules 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 practices.