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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 17/02/1437H corresponding to 29/11/2015 regarding the lawsuit filed by the Capital Market Authority against Mohammad bin Sulaiman bin Mohammad Almis’her. The decision convicted the defendant of violating the Article (50) of the Capital Market Law and Article (6) of the Market Conduct Regulations for trading the stocks of Al Abdullatif Industrial Investment Co. based on inside information. The decision included applying the following fines and sanctions:

  1. Impose a fine on him in the amount of 100,000 One Hundred Thousand Riyals.
  2. Oblige him to pay 98,772 Ninety Eight Thousand and Seven Hundred and Seventy Two Riyals to CMA’s account for the illegal profits in his investment portfolio.
  3. He shall refrain from trading the shares of companies listed in the Saudi Stock Exchange (buying) whether in person or on behalf on someone else for three years.

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