Court of Cassation upholds QFMA’s decision of imposing disciplinary, financial penalty against market trader for issuing fictitious purchase orders

Doha, Qatar: The Qatar Financial Markets Authority (QFMA) announced that the Court of Cassation issued a decision upholding the ruling of the Court of Appeal, which had confirmed the decision of the Appeal Committee at the Qatar Financial Markets Authority.

That decision endorsed the QFMA’s decision of issuing a censure and imposing a financial penalty of QR150,000 against a market trader for entering and canceling large-volume purchase orders for a number of shares with the intent of creating a misleading impression.