CMA issues 75 penalty decisions against 160 violators in 2022

Logo of Capital Market Authority (CMA)

The Capital Market Authority (CMA) and the Committees for the Resolution of Securities Disputes (CRSD) issued 75 decisions against 160 violators of laws and regulations, including 62 top executives and 55 investors, in 2022, according to CMA's annual report.

The market regulator also noted that a total of 130 penalties were implemented against violators, which represent 81% of total penalties. Meanwhile, the authority is following up on implementing the remaining penalties.

CMA's Penalty Decisions against Violators in 2022
Type of violation	Number	Implemented	Percentage of implemented decisions
Board members/ Senior executives	62	50	80.6 %
Investors	55	37	67.3 %
Capital market institutions / registered persons	38	38	100.0 %
Listed companies	5	5	100.0 %
Total	160	130	81.3 %

The authority said that the total fines and penalties issued against violators in 2022 amounted to about SAR 43.3 million, of which 76%, or SAR 33 million, were collected.

Investors came on top with SAR 20.4 million penalties and fines, of which SAR 11.8 million, or 58%, were collected. Meanwhile, SAR 13.14 million worth of fines were imposed on capital market institutions. Senior executives were penalized SAR 8.31 million, of which about 79% were collected.

Total Amounts of Fines and Penalties in 2022
Type of violators	Total amount of fines and penalties (SAR mln)	Total collected amount (SAR mln)	Percentage of collected amount from total fines and penalties
Investors	20.42	11.84	58.0 %
Senior executives	8.31	6.59	79.3 %
Registered persons	1.23	1.23	100.0 %
Listed companies	0.19	0.19	100.0 %
Capital market institutions	13.14	13.14	100.0 %
Total	43.28	32.99	76.2 %

With regard to the type of violation, the fines and penalties imposed on violators of the market conduct regulations came on top with SAR 18.1 million, or 42% of the total fines and penalties, of which about SAR 11.5 million were collected.

Fines and Penalties By Type of Violation
Type of violation	Total amount of fines and penalties (SAR mln)	Total collected amount (SAR mln)	The percentage of collected amount from the total fines and penalties
Market conduct regulations	18.06	11.46	63.4
Capital market institutions regulations	10.91	9.76	89.5
Rules on the offer of securities and continuing obligation	7.28	6.28	86.3
Real estate investment funds regulations	2.23	2.23	100.0
Corporate governance regulations	2.01	1.81	90.0
Securities business regulations	1.25	0.27	21.9
Board decisions	0.80	0.80	100.0
Companies Law	0.54	0.17	31.5
Listing rules	0.11	0.11	100.0
Implementing regulations of the law of Anti-money laundering rules and combating terrorist crimes and their financing	0.10	0.10	100.0
Total	43.28	32.99	76.2

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