Title: Announcement regarding issuance of Disciplinary Board Resolution No. (44/2024 Disciplinary Board) (42/2024 Authority) and imposition of a warning against First Investment Company for Violating the rules of Disclosure and Transparency.

Announcement regarding issuance of Disciplinary Board Resolution No. (44/2024 Disciplinary Board) (42/2024 Authority) and imposition of a warning against First Investment Company for Violating the rules of Disclosure and Transparency.

For the following reasons:
Violation of the provision of Article (4-2-1) of Module Ten (Disclosure and Transparency) of the Executive Bylaws of Law No. 7 of 2010 and their amendments. It was proven to the CMA that First Investment Company delayed disclosing in Boursa Kuwait Securities Exchange the material information of the resolution issued by the judge of the Supreme Court (Bankruptcy Management) on the expiration of the period to suspend all the judicial claims and execution procedures taken against First Investment Company on 7/3/2024, as the company disclosed the aforementioned material information on 7/5/2024.

The Resolution included the infliction of the following penalty: -
"Levying a warning against First Investment Company for the attributed violation with a directive to avoid repeating such violation 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.