​The Capital Market Authority announces that the Appeal Committee for the Resolution of Securities Disputes has issued its decision dated 03/02/1437H corresponding to 15/11/2015G regarding the lawsuit filed by the Capital Market Authority against Noura bint Abdullah bin Mohammad Alghunaimi (the first defendant) and Fahad bin Nasser bin Abdullah Alshamikh (the second defendant) . The decision upheld the previous decision issued by the Committee for the Resolution of Securities Disputes convicting the defendants for 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, as the first defendant gave recommendations for trading stocks of companies listed on the Saudi Stock Exchange through her Twitter account in return for money transfers made to the bank account of the second defendant. The decision of the committee included the imposition of a fine of 20,000 Twenty Thousand Riyals on each one of them.

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.