ع

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 26/01/1436H corresponding to 19/11/2014 which was executed on 18/06/1436H corresponding to 07/04/2015 as the appeal date has passed. The decision was regarding the lawsuit filed by the Capital Market Authority (CMA) against Dalal bint Abdullah bin Sodoun Alotaibi 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. She used a website to give advice and recommendations on the stocks of listed companies in the Saudi Stock Exchange in return for money deposited in her bank accounts. The committee’s decision included the imposition of a penalty of (SR 44,000) Forty Four 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.