Announcement from the General Secretariat of CRSD Regarding the Issuance of CRSD Final Decision No. (3591/L/D2/2021) of 1443 H. Convicting Violator of the Capital Market Law and its Implementing Regulations
The General Secretariat of the Committees for Resolution of Securities Disputes (GS-CRSD) announces the issuance of the Committee for Resolution of Securities Disputes’ (CRSD) final decision No. (3591/L/D2/2021) of 1443H, dated 15/05/1443H, corresponding to 19/12/2021, in the case filed by the Public Prosecution (referred to by the Capital Market Authority (CMA)) against: Muhamad bin Nasser bin Sa’ad Aldahi.

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 “Dealing” as an agent, by receiving financial amounts from a number of investors in order to invest them on shares in the Saudi Stock Exchange without obtaining a license from the CMA.

The decision included the imposition of a fine upon him amounting to (SR. 70,000) seventy thousand Saudi Riyals.

Furthermore, any person who has entered into an agreement or contract with the convicted individual in relation to these 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).