Latest News
- South Africa Waives Kuwaiti Visa Fees, Eases Visa Process
- Kuwaiti Diplomats Push For The Return Of 308 Missing Citizens
- Kuwait Municipal By-elections Have Low Turnout
- Islam Opposes All Forms Of Terrorism, And The Immoral Actions Of...
- MoI Confirms Circulating Women’s Prison Riot Video Is From 2016
- Drug Dealers, Officers And Guard Hurt In Shootout At Farmhouse
- Scrutiny On Employee Degrees At Kuwait’s Agriculture Authority
- MoE Allows School Staff To Remain After Official Hours
- Seven Arrested For Selling And Consuming Liquor
- Al-Salmi Blaze Contained By Fire Teams
- Two People Arrested For Forgery And Visa Fraud
- The Police Station Is Now Open 24 Hours A Day For Investigations
Companies Which Fail To Comply Will Be Subjected To Legal Accountability
Non-compliance by the listed companies to pay the annual subscription by Thursday, will subject the companies to legal accountability according to the new mechanism which is based on the average daily trading value of the company’s shares, reports Al-Jarida daily quoting legal sources.
The violating companies will be referred to the disciplinary board as a last step after calculating a delay fee of 10 percent of the total amount of the subscription amount.
The sources said the Federation of Investment Companies and the Kuwait Insurance Federation had submitted to the Capital Markets Authority their objection to the new fees approved by it at the end of last December and had requested a meeting to discuss the possibility of amendments to the decision of the Stock Exchange Market to amend the annual subscription fees.
The companies have started to pay the annual subscription fees in compliance with the decisions issued by the concerned parties, pointing out that the stock exchange company had set a deadline of June 15 to pay the fees.
Sources pointed out that the regulatory authorities were forced to stop the companies from trading, because they did not pay the annual subscription fees. The disciplinary board issued a decision against them, which prompted the Stock Exchange Market to refer them to the prosecution for failing to implement the decision of the Disciplinary Board until such time as the said violation is rectified after fining the company KD 1,000
Trending News
-
Ministry Systems Hacked, Electricity Bills Altered
11 May 2024
-
Kuwait Unveils Monumental Solar Energy Project For...
06 May 2024
-
Eid Al-Adha Holiday In Kuwait: Potential 9-Day Bre...
15 May 2024
-
Expatriates Caught On Video Stealing Electricity W...
11 May 2024
-
Team To Inspect New Airport's Solar Panel Installa...
12 May 2024
-
Gulf Electrical Interconnection Project Will Boost...
04 May 2024
-
Issuing Work Permits Based On Academic Certificate...
07 May 2024
-
Kuwait Banks Seek Clarity From Central Bank On Cit...
04 May 2024
-
Kuwait Terminated 10,000 Expats Over 5 Years
15 May 2024
-
Kuwait Organizes 30 Events To Protect Children Fro...
04 May 2024
Comments Post Comment