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The Capital Market Authority (CMA) announced today, Feb. 1, referring an investor for the suspected violation of the Capital Market Law and Market Conduct Regulations, according to a statement.
The investor is suspected to have carried out practices that involved manipulative and deceptive acts, including the entry of purchase/sell orders that aims to influence the share price when trading shares of a number of Saudi Exchange (Tadawul)-listed companies.
This came in line with the CMA’s efforts to protect the market from unfair as well as illegal practices.
The CMA also stated that the General-Secretariat of Committees for Resolution of Securities Disputes (GS-CRSD) will disclose the violator's identity to the public on its website, once the violations are proved and final decisions are issued by the CRSD.
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