The update concerns enforcement action by Saudi Arabia's Capital Markets Authority against suspected market manipulation involving share price misrepresentation, which directly relates to equity trading supervision and investor protection in securities markets.
Mandatory inheritance: Equities as the primary tag requires Investment Services as the secondary tag, reflecting the supervisory and investor protection framework governing equity market conduct.
Specialism
The update describes a regulatory referral for suspected market manipulation through actions creating misleading impressions of share prices, which is the core definition of market abuse and market conduct violations.
Mandatory inheritance: Market Abuse/Market Conduct is a child of Supervision, so Supervision must be raised as the secondary tag.
2026-05-11 15:13:10·rghosh@vixio.com
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TITLE: Saudi Arabia's Capital Markets Authority Refers Suspected Capital Market Law Violation to Public Prosecution
BODY:
On May 5, 2026, the Capital Markets Authority (CMA) announced that it had issued a Board resolution referring a suspected violation of Article 49 of the Capital Market Law to the Public Prosecution. The referral concerns a number of suspects who allegedly carried out actions and procedures that created an incorrect and misleading impression regarding the share price of Future Care Trading Company during the period from August 4, 2022 to June 11, 2023.
The CMA stated that the referral aligns with its responsibility to protect citizens and investors from unfair or unsound practices and to achieve fairness, efficiency and transparency in securities transactions. The authority emphasised its commitment to applying the Capital Market Law and its Implementing Regulations to protect the market from illegal practices. The General Secretariat of Committees for Resolution of Securities Disputes will announce the identities of violators on its website upon issuance of final decisions by the Committees for Resolution of Securities Disputes regarding criminal cases.
Persons affected by the alleged violations are entitled to file compensation claims against the violators before the Committee for the Resolution of Securities Disputes under Article 56 of the Capital Market Law, provided such claims are preceded by a complaint filed to the CMA. Affected parties can submit complaints via the CMA's official website.
REFERENCES:
Capital Markets Authority (CMA) Announcements, May 5, 2026. Available at: https://cma.org.sa
CMA Announces the Referral of a Suspicion of Violating Article (49) of the Capital Market Law to the Public Prosecution Turn on more accessible mode Turn off more accessible mode Skip Ribbon Commands Skip to main content Turn off Animations Turn on Animations Official government website of the Government of the Kingdom of Saudi Arabia How to verify Links to official Saudi websites end with gov.sa All links to official websites of government agencies in the Kingdom of Saudi Arabia end with gov.sa. Government websites use the HTTPS protocol for encryption and security. Secure websites in the Kingdom of Saudi Arabia use the HTTPS protocol for encryption. Registered with the Digital Government Authority under number : 20250908764 Home > Media Center > Announcements CMA Announces the Referral of a Suspicion of Violating Article (49) of the Capital Market Law to the Public Prosecution Publishing Date: 05/05/2026 Page Content In line with the Capital Market Authority's (CMA) responsibilities to protect the citizens and investors from unfair or unsound practices, and aiming to achieve fairness, efficiency and transparency in securities transactions, the CMA informs the investors and participants in the capital market that a CMA's Board resolution has been issued regarding the referral of a suspicion of a violation to the Public Prosecution. The suspicion is regarding the violation of Article (49) of the Capital Market Law by a number of suspects; where they carried out a series of actions and procedures that resulted in an incorrect and misleading impression regarding the share price of Future Care Trading Company, during the period from 04/08/2022 until 11/06/2023. The CMA assures its devotion to apply the Capital Market Law and its Implementing Regulations and protect the market from illegal practices. It is worth noting that the General Secretariat of Committees for Resolution of Securities Disputes announces to the public the identities of violators on its website upon the issuance of final decisions by the Committees for Resolution of Securities Disputes regarding criminal cases. Moreover, any person affected by these violations is entitled to file a compensation claim, after conviction, against the violators before the Committee for the Resolution of Securities Disputes as per Article 56 of the Capital Market Law, provided that such claim is preceded by a complaint filed to the CMA ( via this link ) in this regard. Last modified date: 05/05/2026 - 12:47 PM Saudi Arabia time Search Suggestions Announcements Press Releases Prospectuses Reports Cookies This website uses its own cookies to ensure ease of use and guarantee an improved experience while browsing. By continuing to browse this website, you acknowledge acceptance of the use of cookies. Privacy Policy Accept Reject Manage Cookies Manage Cookies When visiting any website, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about you, your preferences, or your device and is used to make the site work as you expect it to. The information does not usually directly identify you, but it can give you a more personalized web experience. You can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings. However, you should know that blocking some types of cookies may impact your experience of the site and the services we are able to offer. Essential Cookies (Always Active) These cookies are necessary for the website to function and cannot be switched off. They are usually only set in response to actions made by you which amount to a request for services. Performance Cookies These cookies help us understand how visitors interact with the website by collecting and reporting information anonymously. Functional Cookies These cookies enable the website to provide enhanced functionality and personalization. They may be set by us or by third party providers. Marketing and Advertising Cookies These cookies may be set through our site by our advertising partners to build a profile of your interests and show you relevant ads. Confirm My Choices Reject All Cookies Thank you! Your response has been successfully recorded. If you would like to modify or change your answer, you can go back by clicking the back button. Go Back Media Center Press Releases Important Links Advertisements Ad 1 Announcements Currently selected Image Library Images Library Media Data Media 1 Video Library Videos The CMA Measures in Light of COVID-19 Impacts Media CMA Announces the Referral of a Suspicion of Violating Article (49) of the Capital Market Law to the Public Prosecution Press Releases Important Links Advertisements Ad 1 Announcements Currently selected Image Library Images Library Media Data Media 1 Video Library Videos The CMA Measures in Light of COVID-19 Impacts Media ×