CMA announces a decision by the Committee for the Resolution of Securities Disputes (CRSD) dated 17/08/1435H corresponding to 15/06/2014 which was executed on 04/01/1436H corresponding to 28/10/2014 regarding the lawsuit filed by the Capital Market Authority (CMA) against Mohammad bin Salem bin Sulaiman Alhjari Alsharif for violating Article (31) of the Capital Market Law and Articles (5) and (17) of the Securities Business Regulations for conducting a securities business without authorization as he sent SMS messages to a number of investors through his cell phone which included recommendations to buy and sell stocks of listed companies in the Saudi Stock Exchange in return for money deposited in his bank account. The committee’s decision included the imposition of a penalty of (SR 200,000) Two 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.