The Kuwait Capital Markets Authority issued a Disciplinary Board decision imposing a financial penalty on ACICO Industries Company for breaching the disclosure and transparency requirements after the company failed to disclose a material agenda item to Boursa Kuwait Stock Exchange. The breach related to Clause (26) of Article (4-1-1) of Module Ten (Disclosure and Transparency) of the Executive Bylaws of Law No. 7 of 2010 (as amended), based on ACICO’s failure to disclose an item concerning the refund of provisions for cases amounting to KD 7,221,988 when announcing the Board of Directors agenda and related disclosures on May 8 and 13, 2025. The Disciplinary Board imposed a fine of KD 5,000 under Resolution No. 40/2025 (Disciplinary Board) and No. 82/2025 (Authority).
Kuwait Capital Markets Authority 2025-11-10
Kuwait Capital Markets Authority fines ACICO Industries KD 5,000 for failing to disclose KD 7.22 million provision refund
The Kuwait Capital Markets Authority imposed a KD 5,000 fine on ACICO Industries Company for breaching disclosure and transparency requirements by failing to disclose a material agenda item to Boursa Kuwait Stock Exchange. The breach involved not disclosing a refund of provisions amounting to KD 7,221,988, violating Clause (26) of Article (4-1-1) of Module Ten of the Executive Bylaws of Law No. 7 of 2010.