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An Announcement from the Capital Market Authority regarding the decision issued by The Appeal Committee for the Resolution of Securities Disputes to convict a violator of the Capital Market Law and its implementing regulations

​The Capital Market Authority announces that the Appeal Committee for the Resolution of Securities Disputes has issued its decision dated 08/08/1436H corresponding to 26/05/2015 regarding the lawsuit filed by the Capital Market Authority against Mohammad bin Mubarak bin Mohammad Bin Sweilem. The decision upheld the previous decision issued by the Committee for the Resolution of Securities Disputes convicting the defendant for violating Article (31) of the Capital Market Law and Article (5) of the Securities Business Regulations for practicing a securities business without obtaining a license, as he gave through "WhatsApp" application on  his cell phone and his "Twitter" account recommendations on shares of companies listed on the Saudi Stock Exchange in return for money deposited to his bank account. The decision of the committee included the imposition of a fine of 50,000 Fifty Thousand Riyals .

The Capital Market Authority insures its devotion to apply the Capital Market Law and its Implementing Regulations as well as protect the investors from illegal acts.