The Kuwait Capital Markets Authority issued Disciplinary Board Resolution No. 55/2024 imposing a KWD 2,000 fine on National Real Estate Company for breaching disclosure and transparency requirements by failing to disclose insider share transactions on time. The breach concerned Item (2) of Article (3-6-1) of Module Ten (Disclosure and Transparency) of the Executive Bylaws to Law No. 7 of 2010 (as amended). As an insider, the company did not disclose the sale of 770,000 shares and the purchase of 300,000 shares carried out on 16 May 2024 until 29 August 2024.
Kuwait Capital Markets Authority 2025-01-13
Kuwait Capital Markets Authority Disciplinary Board fines National Real Estate Company KWD 2000 for late disclosure of insider share trades
The Kuwait Capital Markets Authority fined National Real Estate Company KWD 2,000 for breaching disclosure and transparency requirements by failing to timely disclose insider share transactions. The company delayed reporting the sale of 770,000 shares and the purchase of 300,000 shares conducted on 16 May 2024 until 29 August 2024, violating the Executive Bylaws to Law No. 7 of 2010.