Under its resolution No. 11-9-2010 and due to several violations of the Capital Market Law and its Implementing Regulations, the CMA Board of Commissioners issued today Sunday 28/3/1431H corresponding to 14/3/2010 its decision to revoke the license granted to Ernst & Young Saudi Arabia Consulting Limited based on the Capital Market Law issued by the Royal Decree No. (M/30) dated on 02/06/1424H, and the Authorized Persons Regulations issued by CMA Board of Commissioners on their Resolution No. 1-83-2005 dated on 21/5/1426H corresponding to 28/6/2005.

The CMA had authorized Ernst & Young Saudi Arabia Consulting Limited to conduct Arranging & Advising activities in the securities business under resolution No. 2–174-2006 dated on 22/4/1427H corresponding 20/5/2006.