ع

Published on the same date

An Announcement from the Capital Market Authority regarding the decision issued by The Appeal Committee for the Resolution of Securities Disputes Convicting 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 27/11/1438H corresponding to 19/8/2017G on the lawsuit filed by The Public Prosecution against Mohammed bin Abdullah bin Ibrahim Almuqbil (which was referred from the Capital Market Authority). The decision convicted the defendant for violating Article (31) of the Capital Market Law and Article (5) of the Securities Business Regulations for conducting a securities business without obtaining a license. As he managed investment portfolios belonging to some investors in return for money. The decision of the committee included the imposition of a fine on him in the amount of (100,000) One Hundred Thousand Riyals.

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