CmaBoardReleases
Title: Announcement Regarding Issuance of Disciplinary Board Resolution
Announcement Regarding Issuance of Disciplinary Board Resolution
The Capital Markets Authority announces issuance of a Disciplinary Board Resolution on Thursday 25/6/2015 on violation No. (25/2015 Disciplinary Board) (7 and 26/2015 Authority) filed against: Faisal Ghazi Jubair Al-Daihani.
That is by "suspending Faisal Ghazi Jubair Al-Daihani from trading; direct or indirect purchasing and/or selling, whether for his own account or for the account of others for three months".
This punishment is due to violation of Article (122/2) clause (c) of "Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities" by creating fictitious trading which affected the market's index for the purpose of encouraging others to purchase or sell, mislead traders and create false impression on the activity of the executed securities.
In this regard, the CMA emphasizes the implementation of CMA Law and its Executive Bylaw on all persons dealing in securities activities, and urges them to comply with these rules in order to promote investors' confidence, create a sound investment environment, and implement the Law according to the principles of fairness, transparency, and integrity in line with the best international practice.