The Kuwait Capital Markets Authority issued a Disciplinary Board decision imposing financial penalties on Al‑Maassah Investment Company for breaches of the Executive Bylaws of Law No. 7 of 2010 relating to securities activities and registered persons, and to clients’ funds and assets. The breaches cited include failure to fill positions required to be registered within the statutory vacancy period (Article 3-2-11 of Module Five), submitting special nomination applications for board membership without obtaining the Authority’s prior approval before the company’s General Assembly on 24 April 2025 (paragraph (b) of Appendix 4 to Module Five), and failing to appoint an auditor for compliance with Module Seven requirements, alongside the annual auditor reporting framework set out in Capital Markets Authority Circular No. 6 of 2016 (Article 2-5 of Module Seven). The penalties were set at KD 3,000 for each of the first and second violations and KD 5,000 for the third.
Kuwait Capital Markets Authority 2025-10-13
Kuwait Capital Markets Authority fines Al‑Maassah Investment Company KD 11,000 for breaches of registered-person, board nomination and client funds rules
The Kuwait Capital Markets Authority imposed financial penalties on Al-Maassah Investment Company for breaches of the Executive Bylaws of Law No. 7 of 2010. Violations included failing to fill required positions, unauthorized board nominations, and non-compliance with auditor appointment requirements. Penalties totaled KD 11,000.