CmaBoardReleases
Title: Announcement Regarding Issuance of Disciplinary Board Resolution on Violation No. (68/2017 Disciplinary Board) (196/2017 Authority)
The Capital Markets Authority announces issuance of a Disciplinary Board Resolution passed in its meeting held on Wednesday 29/11/2017 on violation No. (68/2017 Disciplinary Board) (196/2017 Authority) filed against:
ASIYA CAPITAL INVESTMENTS COMPANY ( CURRENTLY KNOWN AS KUWAIT CHINA INVESTMETN COMPANY)
The Company shall pay a total of KWD 2,000 for violating the rules of disclosure of material information.
This punishment is due to violating the provision of (1-3-3) of Module Ten (Disclosure and Transparency) of the Executive Bylaws of Law No. 7 of 2010 and their amendments for not disclosing the results of the Board of Directors meeting which was held on 2/8/2017 at which the financial statements were discussed and approved for the financial period ending on 30/6/2017 during the specified time by law, and delayed the disclosure until 7/8/2017.
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.