The Capital Market Law Prohibits Violating Acts in the Stock Exchange, Refers Violators to Bureau of Investigation and Public Prosecution 2 Riyadh

Article (49) of the Capital Market Law considered any person in violation of this Law if he intentionally does any act or engages in any action which creates a false or misleading impression as to the market, the prices or the value of any Security for the purpose of creating that impression or thereby inducing third parties to buy, sell or subscribe for such Security or to refrain from doing so or to induce them to exercise, or refrain from exercising, any rights conferred by such Security.
CMA announced earlier this year that pursuant to the Royal Order No. (4690) and dated 6/2/1435 which states transferring the jurisdictions of the related parties and committees in relation to the investigation and prosecution of criminal offences to the Bureau of Investigation and Public Prosecution, an agreement was made with the Bureau of Investigation and Public Prosecution and the jurisdiction to investigate the violations of Articles (31),(49) and (50) of the Capital Market Law and the public prosecution of them was transferred to the Bureau of Investigation and Public Prosecution starting from 26/01/1436H.
The Capital Market Law stated in clause (c) of Article (57) that in addition to the penalties and financial compensation provided for under this Law, the Committee for the Resolution of Securities Disputes may, based on a claim filed by CMA, punish the persons who violate Articles 49 and 50 with imprisonment terms not exceeding five years.
–SPA
11:52 LOCAL TIME 08:52 GMT