The Kuwait Capital Markets Authority announced that its Disciplinary Board issued a resolution imposing a financial penalty of KWD 30,000 on CAP Kuwait Group Financial Brokerage Company for breaches related to clients’ funds and assets, securities activities and registered persons, and business ethics, after it did not implement a client’s request to withdraw funds from a trading account. The conduct was found to violate Article 6-1-6(7) of Book VII (Clients’ Funds and Assets), Article 1-14-2(1) of Module V (Securities Activities and Registered Persons) and Article 1-4(11) of Module Eight (Business Ethics) of the Executive Bylaws to Law No. 7 of 2010 establishing the Capital Markets Authority and regulating securities activities, as amended. The CMA reiterated that it will apply its law and executive regulations across securities-activity participants and urged compliance.
Kuwait Capital Markets Authority 2026-02-09
Kuwait Capital Markets Authority Disciplinary Board fines CAP Kuwait Group Financial Brokerage KWD 30,000 for failing to process a client withdrawal
The Kuwait Capital Markets Authority's Disciplinary Board fined CAP Kuwait Group Financial Brokerage Company KWD 30,000 for violations involving clients’ funds, securities activities, and business ethics, after failing to execute a client's fund withdrawal request. These breaches contravened articles of the Executive Bylaws to Law No. 7 of 2010, with the CMA emphasizing its commitment to enforcing compliance in securities activities.