Market authority issues Fines to 24 Investors adn Real Estate Companies
RIYADH – The Saudi market Authority (CMA) has issued two final decisions resulting in penalties against 24 investors and real estate companies for violations of financial market regulations. The actions aim to bolster investor confidence and maintain a secure investment environment, the CMA stated.
The penalties are intended to deter unfair, unsound, fraudulent, deceptive, or manipulative practices within the market.Affected parties have legal avenues to seek redress.Individuals impacted by the violations detailed in the first decision can file individual or collective lawsuits with the Committee for the Settlement of Securities Disputes to claim compensation for damages. Those who entered agreements with parties involved in the second decision can pursue annulment of those agreements and recovery of funds.
Prior to filing a lawsuit, a complaint must be submitted to the Financial Market Authority via https://investorprotection.cma.gov.sa/ar/services/ServiceDetails/10. The General Secretariat of the Committees for Resolution of Securities Disputes will publicly announce registered class action lawsuits, allowing other affected investors to join.
the identities of the penalized parties have been published following the Appeals Committee for Securities Disputes’ rulings. details of the first decision are available at https://crsd.org.sa/ar/MediaCenter/Announcements/Pages/Announcement-386.aspx, and the second decision at https://crsd.org.sa/ar/MediaCenter/Announcements/Pages/Announcement-387.aspx.
The CMA emphasized its commitment to creating an attractive and safe investment climate for all investors.
