​The Capital Market Authority announces that the Appeal Committee for the Resolution of Securities Disputes has issued its decision dated 09/03/1437H corresponding to 20/12/2015 regarding the lawsuit filed by the Capital Market Authority against Fayez bin Tha’aar bin Dakheel Allah Almutairi. 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) and Article (17) of the Securities Business Regulations for practicing a securities business without obtaining a license. He used his cell phone and a website to give recommendations on shares of companies listed on the Saudi Stock Exchange  in return for money transfers made to his bank account. The decision of the committee included the imposition of a fine of 80,000 Eighty 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.