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Published on the same date

An Announcement by the Capital Market Authority regarding the issuance of the final decision by The Committee for the Resolution of Securities Disputes (CRSD) to convict a violator of the Capital Market Law and its Implementing Regulations

CMA announces the issuance of a decision by the CRSD on 11/9/1433H corresponding to 30/7/2012 which became executed on 21/10/1433H corresponding to 8/9/2012 regarding the case raised by CMA against Nagwa bint Fidhi bin Salman AlArawi. The final decision was to convict the accused of violating Article (31) of the Capital Market Law and Article (5) of the Securities Business Regulations because she carried on securities business without an approved authorisation by CMA. The following fines and sanctions shall be applied:
1. Impose a fine on her amounting to (SR 50,000) Fifty Thousand Saudi Riyals.
2. She shall refrain for three years from engaging in activities of brokerage and portfolio management, in addition to working as an investment consultant.


By that, CMA insures its devotion to apply the Capital Market Law and its Implementing Regulations as well as protect the investors from illegal acts.