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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 final decision by the CRSD on 24-1-1434H corresponding to 8/12/2012 which became executed on 30/2/1434H corresponding to 12/1/2013 regarding the case raised by CMA against Ali Bin Mohammed Bin Ahmed Asiri. 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. He carried on securities business without an approved authorisation by CMA. The following fines and sanctions shall be applied:

  1. Impose a fine on him amounting to (SR 50,000) Fifty Thousand Saudi Riyals.
  2. He 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.