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An Announcement from the Capital Market Authority regarding the decision issued by The Appeal Committee for the Resolution of Securities Disputes to convict a violator of the Capital Market Law and its implementing regulations

​The Capital Market Authority announces that the Appeal Committee for the Resolution of Securities Disputes has issued its decision dated 04/03/1437H corresponding to 15/12/2015 regarding the lawsuit filed by the Capital Market Authority against Saeed bin Abdulrahman bin Ali Al Ya’n Allah Alkahtani. The decision upheld the previous decision issued by the Committee for the Resolution of Securities Disputes convicting the defendant for violating Article (31) of the Capital Market Law and Article (5) of the Securities Business Regulations for practicing a securities business without obtaining a license, as he collected money from investors and invested it in the Saudi Stock Exchange through his personal investment portfolio. The decision of the committee included the imposition of a fine of 100,000 One Hundred Thousand Riyals.

The Capital Market Authority insures its devotion to apply the Capital Market Law and its Implementing Regulations as well as protect the investors from illegal acts.