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Published on the same date

An announcement by the Capital Market Authority regarding the issuance of the 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 a decision by the Committee for the Resolution of Securities Disputes (CRSD) dated 11/01/1436H corresponding to 04/11/2014 which was executed on 10/03/1436H corresponding to 01/01/2015 as the appeal date has passed. The decision was regarding the lawsuit filed by the Capital Market Authority (CMA) against Abdullah bin Zain bin Sulaiman Alsaa’di  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 used his cell phone and his “Twitter” account to advise and give 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 20,000) Twenty 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.