Saudi regulator fines, bans trader from Tadawul bourse
Regulator has also asked him to refrain from trading for at least six months
Dubai: Saudi Arabia’s capital markets regulator said it has fined and banned trader Sami mkhdor Awish Almhamadi from the Tadawul bourse.
The regulator will impose a fine of 610,000 Saudi Riyals, and also pay 1.65 million Saudi Riyals and the has also asked him to refrain him from trading in shares for at least six months.
The malpractices involve for trading the shares of companies like Almasafi, side, Al Bilad Bank, Cables, Al-Ahsa, name, Al Bahah, Thimar, Shams, Zain, Chemanol, Kayan, Najran Cement, Emaar, Jabalomar, Dar Al-Arkan, Knowledge Economic City, and Etihad Atheeb) during the period from November 2012 until June 2012.
These practices formed manipulation and fraud and created a misleading and incorrect impression about the mentioned companies, the regulator said in a statement.
