Saudi market regulator issues SAR 132.8 mln fines in 2019

Saudi Arabia’s Capital Market Authority (CMA), the Kingdom’s market regulator, issued penalty decisions against 199 violators in 2019, of which 67 were investors, 50 were top executives, and 51 were listed companies, according to its annual report.

A total of 158 penalties were executed against violators in 2019, representing 79% of the total penalties, while the remaining ones are being imposed.

CMA Imposed Fines in 2019 By Violator
Violator	Total imposed fines	Total executed fines	Executed fines (%)
Investors	67	43	64.2%
Top Executives	50	44	88.0%
Listed company	51	42	82.4%
Registered/ licenced person	31	29	93.5%
Total	199	158	79.4%

The market regulator issued SAR 132.77 million fines in 2019, of which 58.8% or SAR 78.01 million were collected.

Investors were fined to the tune of SAR 130.3 million, with 58.2%, or SAR 75.8 million, collected last year.

Top executives were fined SAR 1.03 million, with 92.2%, or nearly SAR 950,000, collected in 2019.

Total Fines in 2019 By Violator (SAR mln)
Violator	Total imposed fines	Total collected fines	Collected amount/ total fine (%)
Investors	130.30	75.84	58.2%
Top Executives	1.03	0.95	92.2%
Registered person	--	--	--
Listed company	0.75	0.56	74.7%
Licenced person	0.69	0.66	95.7%
Total	132.77	78.01	58.8%

Penalties imposed for manipulation and fraud represented the majority of last year's fines, with 96.1%, or SAR 127.6 million. The market regulator collected SAR 73.42 million of those fines.

Total Fines in 2019 By Violation (SAR mln)
Violation	Total imposed fines	Total collected fines	Collected amount/ total fine (%)
Manipulation and fraud	127.64	73.42	57.5%
Insider Trading	1.44	1.44	100%
Practicing securities business without a license	1.19	0.96	80.7%
Trading during restriction period	1.01	0.96	95.0%
Disclosure	0.53	0.36	67.9%
List of licensed persons	0.46	0.45	97.8%
Corporate Law	0.20	0.17	85.0%
Decisions, circulars of CMA’s board	0.11	0.09	81.8%
Investment & real estate funds rules	0.10	0.10	100%
Anti-money laundering and terrorism financing	0.04	0.04	100%
List of securities launching	0.02	0.02	100%
Rules of financial adequacy	0.02	--	--
Registering & listing rules	--	--	--
Governance regulations	--	--	--
Stake changes/acting without notifying the authority	--	--	--
Rules of merger & acquisitions	--	--	--
Rules of money laundering and terrorism financing	--	--	--
Rules of securities launching	--	--	--
Total	132.77	78.01	58.8%

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