The Kuwait Capital Markets Authority’s Board of Commissioners imposed financial sanctions on Middle East Financial Brokerage Company (K.S.C.C.) for procedural violations of the anti-money laundering and combating the financing of terrorism requirements in Module Sixteen of the Executive Bylaws to Law No. 7 of 2010 regulating securities activities. The decision, taken at meeting 21/2025 on 16 July 2025, levies a KD 2,700 penalty for violating Article 3-19 and a KD 5,400 penalty for violating Article 6-1 of Module Sixteen. The authority reiterated that securities activity participants are expected to comply with the law and its executive bylaws.
Kuwait Capital Markets Authority 2025-07-20
Kuwait Capital Markets Authority fines Middle East Financial Brokerage Company KD 2,700 and KD 5,400 for AML CFT procedural breaches
The Kuwait Capital Markets Authority fined Middle East Financial Brokerage Company (K.S.C.C.) for violating anti-money laundering and terrorism financing requirements in Module Sixteen of the Executive Bylaws to Law No. 7 of 2010. Penalties include KD 2,700 for violating Article 3-19 and KD 5,400 for Article 6-1. The authority stressed compliance with the law and bylaws by securities activity participants.