CMA says compensation for securities disputes-hit persons rises to SAR 2.1 bln by Q3 2022-end

Logo of Capital Market Authority (CMA)

The Capital Market Authority (CMA) said compensation issued under final verdicts by the General Secretariat of Committees for Resolution of Securities Disputes (GS-CRSD) for those affected by errors and violations in securities disputes from 2019 until the third quarter of 2022 reached nearly SAR 2.1 billion.

The value of total compensation in 2021 amounted to about SAR 367 million, up from almost SAR 93 million in 2020, the market regulator added, according to Al Eqtisadiah newspaper.

The CMA also indicated that the class action proceedings contributed significantly to proving the rights of affected persons and the speedy implementation of decisions to ensure the achievement of prompt justice to raise investor confidence and achieve capital market stability.