Kuwait Capital Markets Authority has filed a report with the Prosecutor General regarding an alleged crime under Item (2) of Article 127 of Law No. 7 of 2010 (as amended), citing failure to comply with a final Disciplinary Board decision to pay an imposed fine. The report concerns a defendant described as a former Chairman of the Board and former Chief Executive Officer of a formerly listed company who had not, by the time of the referral, implemented the final decision to pay the fine set out in Disciplinary Board Resolution No. (20/2024 Disciplinary Board – 82/2021 Authority), despite being duly served notice of the resolution on 19 and 20 November 2024.
Kuwait Capital Markets Authority 2025-01-22
Kuwait Capital Markets Authority reports suspected offence to the Prosecutor General over non-payment of a disciplinary fine
The Kuwait Capital Markets Authority has reported a former Chairman and CEO to the Prosecutor General for failing to comply with a Disciplinary Board decision under Article 127 of Law No. 7 of 2010. The individual did not pay a fine imposed by Disciplinary Board Resolution No. (20/2024 Disciplinary Board – 82/2021 Authority) despite receiving notice in November 2024.