The General
Secretariat of the Committees for Resolution of Securities Disputes (GS-CRSD)
announces the issuance of the Appeal Committee for Resolution of Securities
Disputes’ (ACRSD) final decision No. (2356/L.S/2021) of 1443 H., dated 21/03/1443 H., corresponding to 27/10/2021, in the case filed by
the Public Prosecution (referred to by the Capital Market Authority (CMA)) against:
Do’a Alawi Fahmi Muhammad.
The decision
concluded with the conviction of the abovementioned individual for violating
Article (31) of the Capital Market Law, as well as Article (5) of the
Securities Business Regulations, by carrying out securities business
represented in “Advising” on shares of listed companies in the Saudi Stock
Exchange in return for financial subscriptions, without obtaining a license
from the CMA.
The decision
included the imposition of a fine upon her amounting to (SR. 50,000) fifty thousand
Saudi Riyals.
Furthermore, any person who
has entered into an agreement or contract with the convicted individual in
relation to this violations is entitled to file a claim with the CRSD to
request the rescission of the agreement or contract and the recovery of any
money or other property paid or transferred under the agreement or contract, as
per Article (60/b) of the Capital Market Law, provided that such claim is
preceded by a complaint filed with the CMA on this regard, via the
following link (File
Complaint Link).
