CMA Announces the Carrying on of Securities Business in the Kingdom by Unauthorized person
Thursday, August 20, 2020 at 4:01 PM
Thu Aug 20, 2020 16:01
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 "New Target Company" through the website (http://www.new-target.co)", is an unauthorised person to carry out securities business in the Kingdom, 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.