​Following the announcement of the Capital Market Authority (CMA) on 26/06/1436 H. corresponding to 15/04/2015G., regarding the issuance of the Committee for Resolution of Securities Disputes' (CRSD) decision – which became a final decision by the elapsing of the appeal period - No. (1417/L/D1/2014) of 1436 H., dated 26/01/1436 H., corresponding to 19/11/2014G., in the case filed by the CMA against "Dalal bent Abdullah bin Su'doon Alotaibi" which concluded with her conviction for violating Article (31) of the Capital Market Law, as well as Article (5) and Article (17) of the Securities Business Regulations when carrying out securities business without a license, and concluded with imposing a fine upon her according to the details stated in the abovementioned announcement;

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) decision (in the case that was re-registered pursuant to the petition to re-examine the case filed by “Dalal bent Abdullah bin Su'doon Alotaibi" No. (1953/L.S/2020) of 1441 H., dated 22/11/1441 H., corresponding to 13/07/2020G., upholding CRSD decision No. (2785/L/D1/2020) of 1441 H. dated 06/09/1441 H., corresponding to 29/04/2020G., which held “Abdullah bin Su'doon bin Dohaiyan Alotaibi" responsible for violating Article (31) of the Capital Market Law, as well as Article (5) and Article (17) of the Securities Business Regulations, through “advising" on shares of companies listed on the Saudi Stock Exchange in return for financial fees, and advertising for such activity on a website with the name “Saary's Forum for Saudi Stocks and Programs" via the link (www.saary-sa.com) without obtaining a license from the CMA.

The decision stated that “Dalal bent Abdullah bin Su'doon Alotaibi" is not responsible for such violations,  based on the confession of her father that he was the one who committed such violations and used her two bank accounts to complete such violations for which he was convicted.

The decision concluded with the following:

First: Non-conviction of "Dalal bent Abdullah bin Su'doon Alotaibi" of violating Article (31) of the Capital Market Law, and nor for the violation of Article (5) and Article (17) of the Securities Business Regulations.

Second: The conviction of "Abdullah bin Su'doon bin Dohaiyan Alotaibi" of violating Article (31) of the Capital Market Law, as well as for the violation of Article (5) and Article (17) of the Securities Business Regulations and imposing upon him the following sanctions:

1.Fine amounting to (SR. 22,200) Twenty two thousand and two hundred Saudi Riyals for violating Article (31) of the Capital Market Law and for the violation of Article (5) of the Securities Business Regulations.

2.Fine amounting to (SR. 22,200) Twenty two thousand and two hundred Saudi Riyals for violating Article (17) of the Securities Business Regulations.

Furthermore, any person who has entered into an agreement or contract with the convicted person in relation to this violation 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 by him 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 (click here).