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. (3411/L/D1/2021) of 1443 H., dated 22/01/1443 H., corresponding to 30/08/2021 G., in the case filed by the Public Prosecution (referred to by the Capital Market Authority (CMA)) against: Tariq bin Abdulaziz bin Thamer Alharbi.

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 various persons and investing them through his investment portfolio in Saudi Stock Exchange without obtaining a license from the CMA.

The decision included the imposition of a fine upon him amounting to (SR. 30,000) thirty thousand Saudi Riyals.

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 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).