An Announcement regarding Carrying on the Securities Business by Unauthorised Person by the CMA
Thursday, September 03, 2020 at 3:57 PM
Thu Sep 3, 2020 15:57
In line with the Capital Market Authority’s (CMA) responsibilities to protect citizens and investors from unfair and unsound practices and ensure fairness, efficiency and transparency in the market, and in accordance with Article 17 of the Capital Market Law, the CMA announces to the citizens and investors in the capital market that the CMA has observed persons carry out securities business in the Kingdom without obtaining an athorisation from the CMA, with the names of "Alshamil Investment Bank" and "Saudi Commercial Investment Bank" through the website (http://alshamilbank.com)", and that the CMA is in the process of completing the regulatory procedures in this regard.
The CMA assures its devotion to apply the Capital Market Law and its Implementing Regulations as well as protect the investors from illegal acts. The CMA calls on all participants and investors in the market to limit their transactions in securities with Authorised Persons by the CMA to conduct securities business, and not to deal with unauthorised persons, whether they were individuals or institutions, and verify the entities they deal with have obtained an authorisation from the CMA.
You can view the authorised persons by visiting the CMA’s website on WWW.CMA.ORG.SA