CmaBoardReleases
Title: Announcement regarding issuance of Disciplinary Board Resolution No. (75/2021 Disciplinary Board) (92/2021 Authority) and imposition of a fine of 2 thousand Dinars against Kuwait Hotels Company for violating the rules of Disclosure and Transparency.
Announcement regarding issuance of Disciplinary Board Resolution No. (75/2021 Disciplinary Board) (92/2021 Authority) and imposition of a fine of 2 thousand Dinars against Kuwait Hotels Company for violating the rules of Disclosure and Transparency.
For the following reasons:
This is for violating the provisions of Article (4-2-1) of Module Ten (Disclosure and Transparency) of the Executive Bylaws of Law No. (7) of 2010 and their amendments, due to the Company's delay in disclosing a number of material information.
The Resolution included the infliction of the following penalty: -
“Kuwait Hotels Company is fined the amount of two thousand Dinars for the assigned violations”.
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.