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Published on the same date

An announcement by the Capital Market Authority regarding the issuance of the decision by The Appeal Committee for the Resolution of Securities Conflicts (ACRSC) to convict violators of the Capital Market Law and its implementing regulations

​CMA announces a decision by the Appeal Committee for the Resolution of Securities Conflicts (ACRSC) dated 29/03/1436H corresponding to 20/01/2015 regarding the lawsuit filed by the Capital Market Authority (CMA) against Hamed bin Marzooq bin Amer Almutairi and Hanas bin Saud bin Mitle’ Almizani Almutairi for violating Article (31) of the Capital Market Law and Article (5) of the Securities Business Regulations for conducting a securities business without authorization. They signed contracts with a number of investors to sell traded shares in the Saudi Stock Exchange in installments or credit and then sell those shares in the Saudi Stock Exchange and transfer the money gained from the sale to the client. The committee’s decision included the imposition of a penalty of (SR 100,000) One Hundred Thousand Saudi Riyals on each one of them for this violation.

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.