Title: Announcement regarding issuance of Disciplinary Board Resolution No. (17/2024) Disciplinary Board - (164/2023) Authority and imposition of a warning against The Securities House Company for Violating the Rules of Securities Activities and Registered Persons.

Announcement regarding issuance of Disciplinary Board Resolution No. (17/2024) Disciplinary Board - (164/2023) Authority and imposition of a warning against:  The Securities House Company for Violating the Rules of Securities Activities and Registered Persons.

For the following reasons:
First: 
1) The provision of Article (3-2-5) of Module Five (Securities Activities and Registered Persons) of the Executive Bylaws of Law No. 7 of 2010 and their amendments.
2) The provision of Article (3-2-8) of Module Five (Securities Activities and Registered Persons) of the Executive Bylaws of Law No. 7 of 2010 and their amendments.

It was proven to the CMA that The Securities House Company has signed contracts with external entities to undertake the tasks of Registered Employment Positions for different positions than those specified in Article (3-2-8) previously mentioned and without registering them with the CMA, as follows:
• Assigning the tasks of a Registered Employment Position – Senior Executive according to the functions assigned to it.
• Assigning the tasks of a Registered Employment Position – Representative of Investment Advisor Activity according to the contract which assigns the employment functions.
• Assigning and registering a representative of Securities Broker not Registered in a Securities Exchange.

Second: The provision of Article (3-2-14) of Module Five (Securities Activities and Registered Persons) of the Executive Bylaws of Law No. 7 of 2010 and their amendments:

It was proven to the CMA that The Securities House Company has not registered persons in the position of Senior Executives as follows:
1- Executive Vice President – Public Equities Management.
2- Executive Vice President – Private Equities Management.
3- Senior Vice President – Wealth Management.
4- Has not registered a person in the position of Senior Executive for the Financial Technologies Management (Fintech), of which the activity of Securities Broker not Registered in a Securities Exchange is affiliated from.

The Resolution included the infliction of the following penalty: -
"First: Levying a warning against The Securities House Company for the attributed violation and it shall consider it non-repetition in the future.”

In this regard, the CMA emphasizes the implementation of CMA Law and its Executive Bylaws on all persons dealing in securities activities, and urges them to comply with these Laws in order to promote investors' confidence, create a sound investment environment, and implement the Law according to the principles of fairness, transparency, and integrity in line with the best international practice.