CmaBoardReleases
Title: Announcement Regarding Issuance of Disciplinary Board Resolution on Violation No. (21/2017 Disciplinary Board) (18/2017 Complaint)
The Capital Markets Authority announces issuance of a Disciplinary Board Resolution passed in its meeting held on Thursday 4/5/2017 on violation No. (21/2017 Disciplinary Board) (18/2017 Complaint) filed against:
United Health Care Holding Company
The Company shall pay a fine of KWD 5000 for violating the rules of disclosure of interests.
This punishment is due to violating the provision of Article (2-1-3) of Chapter Two (Disclosure of Interests) of Module Ten (Disclosure and Transparency) of the Executive Bylaws of Law No. 7 of 2010 on the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments. It did not submit the group disclosure as it is the parent company.
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.