CmaBoardReleases
Title: Announcement Regarding Issuance of Disciplinary Board Resolution on Violation No. (14/2017 Disciplinary Board) (36/2017 Authority)
The Capital Markets Authority announces issuance of a Disciplinary Board Resolution passed in its meeting held on Thursday 23/3/2017 on violation No. (14/2017 Disciplinary Board) (36/2017 Authority) filed against:
Masaleh Investment Company
That is by warning the Company of the consequences of repeating the said violations in the futures.
This punishment is due to violating Article (2-1) of Module Eleven (Dealing in Securities) of the Executive Bylaws of Law No. (7) of 2010 on the Establishment of the Capital Markets Authority, for increasing its capital from ten million Kuwaiti Dinars to 15 million Dinars through issuance of new shares without obtaining the Authority’s approval.
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 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 practice.