The Capital Market Authority (CMA) announces that the Appeal Committee for Resolution of Securities Disputes (ACRSD) issued its decision dated 27/12/1437 H. corresponding to 28/9/2016, in the filed case by CMA against the Saudi Hollandi Bank. The decision operative part concluded that the Bank had violated Article (31) of the Capital Market Law as well as Article (5) of the Securities Business Regulations and Article (3) of the Offers of Securities Regulations, due to the Bank's act of offering securities without obtaining the approval of CMA during the exempted period it was permitted to exercise securities business, and also due to the Bank's practice of works of securities business after the expiry of permission period granted to practice securities business. The decision of ACRSD included the imposition of a (SR. 200,000) Two Hundred Thousand Riyals fine upon the Bank. This confirms that CMA is keen to implement the Capital Market Law and its implementing regulations, and to protect traders in the exchange from illegal practices. ​