The General Secretariat of the Committees for Resolution of Securities Disputes (GS-CRSD) announces decision issuance of the Appeal Committee for Resolution of Securities Disputes (ACRSD) No. (1646/L.S/2019) of 1440 H. dated 29/05/1440 H., corresponding to 04/02/2019, in the case filed by the Public Prosecution (referred to it by the Capital Market Authority) against: Rayan bin Saeed bin Omar Al'eesai.

The ACRSD decision concluded the conviction of the abovementioned individual for violating Article (6/b) of the Market Conduct Regulations, by committing insider trading in the shares of Batic Investments and Logistics Co.(Previously known as the Saudi Transport and Investment Co.; Mubarrad).  

The above mentioned individual obtained inside information from another person. He purchased shares during the time period between 14/12/2016 until 26/12/2016. Then sold the shares on 01/01/2017 and 02/01/2017.  

The decision of the Appeal Committee concluded to uphold the decision of the Committee for Resolution of Securities Disputes (CRSD) which included a number of sanctions upon the convicted individual, according to the following:

1. Imposing a fine on him amounting (10,000) Ten Thousand Riyals.
2. Obliging him to pay (905,991.90) Nine Hundred Five Thousand, Nine Hundred Ninety One Saudi Riyals and Ninety Halalas to the Capital Market Authority's account, for the illegal gains resulted from these violations on his investment portfolio.