Article 126 of Capital Markets Authority Law

A fine of not less than five thousand dinars and not exceeding fifty thousand dinars shall be imposed on anyone who: Practised a particular activity or profession without obtaining licences from the Authority in accordance with the provisions of this Law. Made any public offering or any other transaction in violation of the provisions of this Law or its Executive Regulations. Deliberately refused or delayed submitting to the Authority any periodic report or document required to be submitted by this Law. He may also be sentenced to temporary disqualification from practising any activity he practised without a licence, or disqualification from entering into any transaction or deal whose registration is required by law.