The Kuwait Capital Markets Authority (CMA) issued Disciplinary Board Resolution No. 62/2024 (Authority Resolution No. 80/2024) imposing a fine on Almadar Investment Company for breaching disclosure and transparency requirements. The CMA found that the company violated Articles 4-1-1 (items 14 and 15) of Module Ten (Disclosure and Transparency) of the Executive Bylaws of Law No. 7 of 2010, as amended, by failing to disclose a first-instance labour court judgment requiring it to pay KWD 432,281.147. The Disciplinary Board imposed a fine of KWD 2,000 for the violation.
Kuwait Capital Markets Authority 2025-02-10
Kuwait Capital Markets Authority fines Almadar Investment Company for failing to disclose a labour court judgment under disclosure and transparency rules
The Kuwait Capital Markets Authority fined Almadar Investment Company KWD 2,000 for breaching disclosure and transparency requirements. The company failed to disclose a first-instance labour court judgment mandating a payment of KWD 432,281.147, violating specific articles of the Executive Bylaws of Law No. 7 of 2010.