Capital Market Authority: investors should avoid dealing with unlicensed institutions

Riyadh 19 Safar 1437 AH, December 1, 2015, SPA — The Capital Market Authority (CMA) stressed the need that investors in the financial market should only deal with financial institutions licensed by the Authority and not to deal with those unlicensed, whether individuals or institutions.
In a statement today, the Authority explained that anyone who engages in activity of stocks without its license or approval is contrary to the market system and regulations, and becomes vulnerable to regulatory sanctions. At the same time, investors need to communicate immediately through one of the official channels, in case of discovery of any party unlicensed – individuals or institutions – conducting brokerage or making recommendations on the shares of listed companies in the market (buying or selling) through websites or forums, or through social networking sites,, or newspapers and television channels, or any other means.
13:58 LOCAL TIME 10:58 GMT