Saudi Arabia warns public against intentionally influencing capital market
Public Prosecution says such actions are considered serious crimes that entail arrest
Dubai: Saudi Arabia’s Public Prosecution has warned the public against intentionally taking any action that creates a false or misleading impression about the capital market, prices, or value of any security or to induce third parties to buy, sell, or subscribe to this security.
In a tweet on its official twitter page, the Public Prosecution said that such actions are considered serious crimes that entails arrest, according to its decision No. (1) dated 1/1/1442.
The actions include:
• Engaging in any action or behavior aimed at creating a false or misleading impression indicating active trading transaction on a specific security, which is contrary to the truth.
• Performing a series of transactions on a specific security to influence on a particular stock.
• Conducting a series of trades on a specific security, such as buying and/or selling a security, with the aim of price stabilization.
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