11 traders referred to Public Prosecution over suspicious trading in two companies

11 traders referred to Public Prosecution over suspicious trading in two companies

The board of Saudi Capital Market Authority (CMA) has referred 11 traders to the Public Prosecution over suspicious trading in shares of Al-Kathiri Holding Company and Anaam International Holding Group.The traders were suspected of violating Article (49) of the Capital Market Law and Article (2) of the Market Conduct Regulations, the regulatory authority said in a statement. The suspicious cases included committing a number of violations such as making entry of purchase orders with the aim of affecting the share price, and entering purchase orders in the closing auction with the aim of achieving a high closing price for the two companies during the period from Dec. 5, 2019, to Nov. 15, 2020.In this regard, the authority emphasized that it will not hesitate to prosecute the manipulators in the financial market by monitoring their dealings by exercising its powers in accordance with the Capital Market Law and its advanced technology means that enable it to monitor all transactions and suspicious cases and to quickly take the necessary legal