The Capital Market Authority (CMA) Board issued its resolution to refer two investors to the Public Prosecution on suspicion of violating Article (49) of the Capital Market Law and Article (7) of the Market Conduct Regulations. These violations are represented by making a false statement in the registration document for the shares of Rawasi Albina Investment Co., which was listed on the Parallel Market (direct listing). The statement pertained to the actual ownership percentage available to the public, resulting in a misleading and incorrect impression regarding the fulfillment of the liquidity requirements mentioned in the company's share registration document.

The CMA emphasizes to all market participants that unlawful practices involving fraud, deception, misrepresentation, and manipulation constitute violations that subject perpetrators to legal accountability and the imposition of penalties under the Capital Market Law and its implementing regulations. The CMA underscores its commitment to pursuing those who manipulate the capital market by monitoring their transactions, utilizing its authority under the Capital Market Law, and fulfilling its responsibility to protect citizens and investors from unfair or improper practices. The CMA is dedicated to ensuring justice, efficiency, and transparency in securities transactions.

It is worth noting that the General Secretariat of Committees for Resolution of Securities Disputes will announce to the public the identities of convicted violators on its website upon the issuance of final decisions by the Appeal Committee for the Resolution of Securities Disputes regarding criminal cases. Moreover, any person affected by these violations is entitled to file a compensation claim, after conviction, against the violators before the Committee for the Resolution of Securities Disputes, provided that such claim is preceded by a complaint filed with the CMA (via this link) in this regard.​