Article 146 of Capital Markets Authority Law

The Disciplinary Council may—after verifying the violation—impose any of the following sanctions: 1 - Admonishing the violator to cease committing the violation. 2 - Warning. - Requiring the violator to pass the qualifying examinations again. - Suspension from work or practice of the profession for a period not exceeding one year. 5 - Permanent suspension from engaging in the work or profession. 6 - Suspension of the licence for a period not exceeding six months. Index of the Law 1372 Home Page Capital Markets Authority Law Law No. 7 of 2010 concerning the Establishment of the Capital Markets Authority and the Regulation of Securities Activity 7- Revocation of the licence. 8- Imposing restrictions on the activity or activities of the violator; the Regulations shall specify these restrictions. 9- Cancellation of the vote, proxy or delegation obtained in violation of the provisions of this Law. 10- Suspension or cancellation of any takeover offer or purchase transactions outside the scope of the takeover offer if conducted in violation of the provisions of Chapter Seven of this Law or the Regulations. 11- Prohibiting the exercise of voting rights for a period not exceeding three years by a shareholder who has refrained from submitting any statement or has submitted an incomplete statement or one contrary to the truth, the Law or the Regulations. 12- Suspension of the effectiveness of a prospectus in force pursuant to the provisions of this Law. 13- Suspension of trading in a security for a limited period, or suspension or cancellation of a decision to list a security before it takes effect. 14- Removal of a board member or manager in a licensed company or listed company, or of the investment controller or custodian of a collective investment scheme, who has failed to discharge the responsibilities stipulated in this Law or the Regulations. 15- Imposing financial penalties graduated according to the gravity of the violation, up to a maximum of fifty thousand Kuwaiti dinars. In all cases, the Disciplinary Council may order cancellation of the transactions related to the violation and their resulting effects, or require the violator to pay sums equal to the value of the benefit obtained or the loss avoided as a result of committing the violation. The value may be doubled in the event of repeated commission of violations.