CMA refers investor to Public Prosecution over suspicious trading

01/02/2023 Argaam
logo ofThe Capital Market Authority (CMA)

logo of The Capital Market Authority (CMA)

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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