​The Capital Market Authority announces that the Appeal Committee for the Resolution of Securities Disputes has issued its decision dated 09/03/1437H corresponding to 20/12/2015 regarding the lawsuit filed by the Capital Market Authority against Sami bin Atiyah bin Dakheel Allah Almasoodi. 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) and Article (17) of the Securities Business Regulations for practicing a securities business without obtaining a license. He used his cell phone and a website to give recommendations on shares of companies listed on the Saudi Stock Exchange in return for money transfers made to his bank accounts. The decision of the committee included the imposition of a fine of 140,000 One Hundred and Forty 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.