‎CMA: 15 market law violators fines SAR 10.7M, ordered to pay SAR 12M

The Capital Market Authority (CMA) announced the issuance of the Appeal Committee for the Resolution of Securities Disputes’ (ACRSD) two final decisions against 15 Violators for violating Article (49) of the Capital Market Law and Article (2) of the Market Conduct Regulations, as well as convicting one of them for violating Article (31) of the Capital Market Law and Article (5) of the Securities Business Regulations.

This is in addition to fining the convicted persons more than SAR 10.7 million and obliging them, with other investors, to pay more than SAR 12 million against illegal gains achieved as a result of such violations.

The Capital Market Authority (CMA) announced the issuance of the Appeal Committee for the Resolution of Securities Disputes’ (ACRSD) two final decisions against 15 Violators for violating Article (49) of the Capital Market Law and Article (2) of the Market Conduct Regulations, as well as convicting one of them for violating Article (31) of the Capital Market Law and Article (5) of the Securities Business Regulations.

This is in addition to fining the convicted persons more than SAR 10.7 million and obliging them, with other investors, to pay more than SAR 12 million against illegal gains achieved as a result of such violations.