​The Capital Market Authority announces that the Appeal Committee for the Resolution of Securities Disputes has issued its decision dated 07/08/1436H corresponding to 25/05/2015 regarding the lawsuit filed by the Capital Market Authority against Mohammad bin Abdullah bin Mohammad Alshehri. 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 text messages (SMS) sent by his cell phone 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 30,000 (Thirty 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.