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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 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 5/6/1439H corresponding to 21/2/2018G on the lawsuit filed by The Public Prosecution (referred to it by the Capital Market Authority)against  Esmaeel Abdulkareem Yahya Al-yahya. The verdict concluded with the conviction of the aforementioned defendant of violating Article (31) of the Capital Market Law and Article (5) of the Securities Business Regulations, by conducting a securities business without obtaining a license, as he performed advisement (advising) activities in exchange for cash subscriptions. The convict used his Twitter account and messaging application "WhatsApp" to advertise his services. The verdict of the committee included the imposition of a fine on the defendant in the amount of (50,000) fifty Thousand Saudi Riyals.

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