¶¶Òõ¶ÌÊÓƵ

Saudi Public Prosecution says giving false impression of capital market is ‘serious crime’

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 is also illegal. (File/Shutterstock)
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 is also illegal. (File/Shutterstock)
Short Url
Updated 04 December 2020

Saudi Public Prosecution says giving false impression of capital market is ‘serious crime’

Saudi Public Prosecution says giving false impression of capital market is ‘serious crime’

¶¶Òõ¶ÌÊÓƵ’s Public Prosecution affirmed that it is prohibited by law to intentionally take 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.

It stated in a tweet that this is one of the serious crimes that require arrest, according to the Public Prosecutor's decision No. (1) dated 1/1/1442.

The following actions are considered fraudulent:

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.

Powered by Argaam