The Capital Market Authority (CMA) has ordered Hasan Turki Al-Otaibi to pay SAR 911,106 in illicit gains, as well as a fine of SAR 160,000 for market violations.
Al-Otaibi will be banned from trading equities on Tadawul for three months, the regulator said in a statement Wednesday.
Al-Otaibi has reportedly unlawfully traded the shares of the following firms for the period between May 1, 2013 and November 10, 2013:
- National Gas & Industrialization Co.
- Saudi Research and Marketing Group
- Al Khaleej Training and Education Co.
- Saudi Arabian Cooperative Insurance Co.
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