CMA announces a final decision by The Appeal Committee for the Resolution of Securities Conflicts (ACRSC) on 24-7-1434H corresponding to 3-6-2013 regarding the case raised by CMA against Hasan bin Ahmad bin Mohammad Alhammadi .

The ruling of ACRSC upheld the decision of the Committee for the Resolution of Securities Disputes (CRSD) convicting the defendant of violating Article (31) of the Capital Market Law and Article (5) of the Securities Business Regulations. He practiced securities business without being authorized by CMA and collected money from investors by signing investment contracts through the corporation “ Ritaj Almustaqbal for Commecrcial Services” to invest , by selling and buying, their money in the Saudi Stock Exchange for a certain percentage of the profits. The committee’s decision included the imposition of a penalty of (SR 100,000) One Hundred Thousand Saudi Riyals for this violation.

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.