The Kuwait Capital Markets Authority submitted a report to the Attorney General on 10/7/2025 regarding an alleged crime under Article 118 of Law No. 7 of 2010 (as amended), involving an investment portfolio manager at a company licensed by the Authority. The case concerns trading between 1/10/2024 and 4/3/2025 in the shares of First Company for Local Fuel Marketing, Kuwait Business City Real Estate Company and Soor Fuel Marketing Company. The Authority found that the portfolio manager allegedly exploited internal information available to him through his trading account, specifically client-related information in the form of written orders received by his employer, and executed transactions for his own benefit, generating illegal gains. The submission refers the matter to the Attorney General for further action.
Kuwait Capital Markets Authority 2025-07-13
Kuwait Capital Markets Authority submits Attorney General report on alleged misuse of internal client order information to trade three listed stocks
The Kuwait Capital Markets Authority reported an alleged crime under Article 118 of Law No. 7 of 2010 to the Attorney General, involving a licensed investment portfolio manager accused of using internal client information to trade shares of First Company for Local Fuel Marketing, Kuwait Business City Real Estate Company, and Soor Fuel Marketing Company for personal gain between October 2024 and March 2025. The case has been referred for further action.