The Capital Markets Authority has announced the imposition of a financial penalty on Securities Group Company following Disciplinary Board Resolution No. (63/2023 Disciplinary Board) (96/2023 Authority). The penalty amounts to KD 10,000 (ten thousand dinars) and is related to a violation of Article 3-1 of Module Seventeen (Capital Adequacy Instructions for Licensed Persons) of the Executive Bylaws of Law No. 7 of 2010 and its amendments. 

The violation occurred due to the company's failure to maintain a qualifying regulatory capital exceeding the risk-based capital requirements. The coverage rate of the company's regulatory capital was found to be 94%, falling below the required minimum of 100% as of March 31, 2023.