Logo of CMA
Saudi market regulator, Capital Market Authority (CMA), issued 100 penalty decisions against 372 violators in 2020, of which 179 were top executives and 131 were investors, according to its annual report.
A total of 226 penalties were executed against violators in 2020, representing 61% of the total penalties, while the remaining ones are being imposed.
|
CMA’s Imposed Fines in 2020 by Violator |
|||
|
Violator |
Total imposed fines |
Total executed fines |
Executed fines (%) |
|
Top Executives |
179 |
129 |
72.1% |
|
Investors |
131 |
49 |
37.4% |
|
Registered/ licensed person |
44 |
38 |
86.4% |
|
Listed company |
18 |
10 |
55.6% |
|
Total |
372 |
226 |
60.8% |
The market regulator issued SAR 258.02 million fines in 2020, of which 14.7% or SAR 37.83 million were collected.
The decrease in the total sums collected is due to the issuance of a number of decisions by the appeal committee in large amounts during Q4 2020, and their collection is being done according to the followed regulations and procedures.
Investors were fined to the tune of SAR 242.03 million, with 11.4%, or SAR 27.7 million, collected last year.
Top executives were fined SAR 13.29 million, with 60.4%, or nearly SAR 8.03, collected in 2020.
|
Total Fines in 2020 by Violator (SAR mln) |
|||
|
Violator |
Total imposed fines |
Total collected fines |
Collected amount/ total fine (%) |
|
Investors |
242.03 |
27.70 |
11.4% |
|
Top Executives |
13.29 |
8.03 |
60.4% |
|
Registered person |
-- |
-- |
-- |
|
Licensed person |
2.29 |
2.01 |
87.8% |
|
Listed company |
0.41 |
0.09 |
22.0% |
|
Total |
258.02 |
37.83 |
14.7% |
Penalties imposed for manipulation and fraud represented the majority of last year's fines, with 94.1%, or SAR 242.85 million. The market regulator collected SAR 29 million of those fines.
|
Total Fines in 2020 by Violation (SAR mln) |
|||
|
Violation |
Total imposed fines |
Total collected fines |
Collected amount/ total fine (%) |
|
Manipulation and fraud |
242.85 |
29.00 |
11.9% |
|
Governance regulations |
6.07 |
1.78 |
29.3% |
|
Corporate Law |
2.89 |
2.58 |
89.3% |
|
Capital market institutions regulations |
2.25 |
2.20 |
97.8% |
|
Registering & listing rules |
1.50 |
1.50 |
100.0% |
|
Practicing securities business without a license |
1.38 |
0.26 |
18.8% |
|
Trading during restriction period |
0.37 |
0.32 |
86.5% |
|
Rules of securities launching |
0.32 |
0.09 |
28.1% |
|
Rules of money laundering and terrorism financing |
0.20 |
0.05 |
25.0% |
|
Investment & real estate funds rules |
0.12 |
0.04 |
33.3% |
|
Disclosure |
0.04 |
-- |
-- |
|
Rules of financial adequacy |
0.02 |
0.02 |
100.0% |
|
Insider Trading |
-- |
-- |
-- |
|
Stake changes/acting without notifying the authority |
-- |
-- |
-- |
|
Decisions, circulars of CMA’s board |
-- |
-- |
-- |
|
List of securities launching |
-- |
-- |
-- |
|
Rules of merger & acquisitions |
-- |
-- |
-- |
|
Total |
258.02 |
37.83 |
14.7% |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}