​The Capital Market Authority announces that the Appeal Committee for the Resolution of Securities Disputes has issued its decision dated 28/1/1439H corresponding to 18/10/2017G on the lawsuit filed by The Public Prosecution against Turki bin Sultan bin Hamad bin Salim (which was referred from the Capital Market Authority). The decision convicted the defendant of violating Article (49) of the Capital Market Law and Article (2) of the Market Conduct Regulations when trading the shares of (Al-Ahlia Insurance Co., Saudi Indian Company for Cooperative Insurance, Saudi Arabian Cooperative Insurance Co., Saudi Real Estate Co., National Agricultural Development Co., Al-Ahsa Development Co., Arriyadh Development Co., Middle East Specialized Cables Co., The National Company for Glass Industries, Alujain Corp., Salama Cooperative Insurance Co., Taiba Holding Co., Malath Cooperative Insurance Co.) during the period from 6/11/2012G until 21/11/2013G. These practices constituted manipulation and fraud and created a misleading and incorrect impression about the security of the mentioned companies. The Appeal Committee's decision included imposing a number of penalties on the defendant, detailed as follows:

1. Imposing a fine on him of (640,000) Six Hundred and Forty Thousand Riyals for these violations.
2.  Obliging him to pay (2,750,471.60) Two Millions, Seven Hundred and Fifty Thousand, Four Hundred and Seventy One Riyals and Sixty Halalas to the Capital Market Authority’s account for the illegal gains in his investment portfolios.

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, and whoever is affected by these acts can file a suit for compensation to the committee as per Article (57) of the Capital Market Law, this must be preceded by a complaint filed to the CMA.

(the security and the date on which the suspected trading occurred)