Referral of Board Members of an Unlisted Public Joint Stock Company to the Public Prosecution

In line with its supervisory mandate and ongoing efforts to support the national economy, ensure the integrity of financial transactions, and safeguard the rights of UAE-based investors, the Securities and Commodities Authority (SCA) conducted an inspection of an unlisted public joint stock company. The inspection—followed by a series of investigations—revealed actions attributed to certain members of the company’s board of directors. These actions were found to be in breach of Federal Decree-Law No. 32 of 2021 concerning Commercial Companies. Accordingly, the SCA has referred the violators to the public prosecution for necessary legal action.

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