CMA announces the referral of a suspicion of violations of Article (50) of the Capital Market Law and Articles (5) and (6) of the Market Conduct Regulations to the Bureau of Investigation and Public Prosecution.

​Further to the CMA’s announcement on 03/11/2014 regarding the commencement of procedures to verify whether there are any violations to the Capital Market Law and its implementing regulations by Etihad Etisalat Co. (Mobily); and further to its announcement on 26/02/2015 regarding the assignment of a specialized team to conduct certain tasks in order to complete the required legal procedures, and based on CMA’s responsibility to protect citizens and investors form unfair and unsound practices involving, fraud, deceit, cheating or manipulation and as part of its efforts to achieve fairness, efficiency and transparency in securities transactions, and based on Article (17) of the Capital Market Law, the CMA would like to inform the investors and participants in the Capital Market that it has completed the procedures related to the suspicion of violations of Article (50) of the Capital Market Law and Articles (5) and (6) of the Market Conduct Regulations related to insider trading, the CMA Board issued its resolution dated 24/7/1436H corresponding to 13/5/2015G to refer the case of the suspected persons to the Bureau of Investigation and Public Prosecution as it falls under their jurisdiction, to investigate and prosecute as per the legal procedures. CMA's verification procedures relating to the other relevant suspected violations are ongoing and the result shall be announced to the investors and participants in the Capital Market in due course.