On 13 May 2024, KUW CMA fined firm for disclosure, and transparency violation.
- KUW CMA issued Disciplinary Resolution 76 of 2023 against The Building Company.
- Imposed a financial penalty against company for violating disclosure and transparency rules of Module 10 of Executive Regulations of Law No. 7 of 2010 and its amendment.
Violations
- Violated provisions of Module 10 article 4-1-1 item 10 re disclosure and transparency.
- Company failed to disclose the signing of a number of influential financing contracts.
- Violated provision of article 4-2-1 of Module 10 re disclosure and transparency rules.
- Violations concerns company's delay in disclosing a number of essential information.
Penalties
- Imposed a financial penalty on the Building Company amounted to 10k KWD for the first violation, and a financial penalty amounted 3,000 KWD for the second violation
