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Published on the same date

An Announcement by the Capital Market Authority regarding the issuance of an enforceable criminal decision by The Committee for the Resolution of Securities Disputes (CRSD) to convict a violator of the Capital Market Law and its Implementing Regulations

CMA announces the issuance of a decision by the CRSD on 23-2-1433H corresponding to 17-1-2012 which became executed on 27/4/1433 corresponding to 20/3/2012 regarding the case raised by CMA against Ahmad bin Mohammad bin Jama’an Al Zahrani. The final decision was to convict the accused of violating Article (31) of the Capital Market Law and Article (5) of the Securities Business Regulations. He carried on securities business without an approved authorisation by CMA. The following fines and sanctions shall be applied:

1- Impose a fine on him amounting to (SR. 100,000) One Hundred Thousand Saudi Riyals.

2- He shall refrain for three years from engaging in activities of brokerage and portfolio management, in addition to working as an investment consultant.

By that, CMA insures its devotion to apply the Capital Market Law and its Implementing Regulations as well as protect the investors from illegal acts.