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

​The Capital Market Authority announces that the Committee for the Resolution of Securities Disputes (CRSD) has issued its final decision dated 14/11/1436H corresponding to 29/08/2015 which was executed on 08/01/1437H corresponding to 21/10/2015 as the appeal date has passed. The decision was regarding the lawsuit filed by the Capital Market Authority (CMA) against Bandar bin Hamad bin Abdulrahman Albadrani Aldosari. The defendant was convicted of violating Article (31) of the Capital Market Law and Articles (5) and (17) of the Securities Business Regulations for  practicing a securities business without obtaining a license. He used a website to give recommendations on shares of companies listed on the Saudi Stock Exchange in return for  transfers made to his bank account. The decision of the committee included the imposition of a fine of 20,000 Twenty 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.