Announcements

​

The General Secretariat of the Committees for Resolution of Securities Disputes (GS-CRSD) announces the issuance of the Appeal Committee for the Resolution of Securities Disputes' (ACRSD) final decision No. (3816/L.S/2025) of 1446 H., dated 27/12/1446 H., corresponding to 23/06/2025 and final decision No. (4084/L.S/2025) of 1447 H., dated 08/07/1447 H., corresponding to 28/12/2025, on the public penal case filed by the Public Prosecution (referred to it by the Capital Market Authority (CMA)) against: Hassan bin Abdulkarim bin Ibrahim Almayouf, Shahd bint Ghudayr bin Saleh Alrasheed, Saleh bin Ghydayr bin Saleh Alrasheed, Latifa bint Fawzan bin Abdulrahman Alsulaiman, Omran bin Muhammad bin Omran Alomran, Reem bint Muhammad bin Omran Alomran, Afnan bint Muhammad bin Omran Alomran, Ahmad bin Sa'ad bin Abdullah Alhuwaimel, Noura bint Abdullah bin Sa'ad Alhuwaimel, Muhammad bin Abdullah bin Muhammad Alhoushan, Ahmad bin Muhammad bin Abdullah Alhoushan, Abdullah bin Muhammad bin Abdullah Alhoushan, Omar bin Muhammad bin Abdullah Alhoushan, Khaled bin Ibrahim bin Abdullah Aljeraiwi, and Muhammad bin Nasser bin Muhammad bin Omran.

The two decisions concluded as follows:

1. The conviction of the abovementioned individuals of violating Article (49) of the Capital Market Law and Article (2) of the Market Conduct Regulations, when trading in the following listed companies: Mutakamela Insurance Co. (previously known as Allianz Saudi Fransi Cooperative Insurance Company), Saudi Arabian Cooperative Insurance Co. (SAICO), Arabia Insurance Cooperative Co. (Arabia Insurance), Al Sagr Cooperative Insurance Co. (Al Sagr Insurance), United Cooperative Assurance Co., and CHUBB Arabia Cooperative Insurance Co., during the period from 30/08/2021 until 06/07/2022, as such acts and practices represented manipulation and fraud, and created a false and misleading impressions regarding the securities of the abovementioned companies. Their violations are represented in their acts, using their portfolios or the portfolios they manage, of entering purchase orders aiming to affect the price of shares, some of which are linked with sale orders.
2. The conviction of Khaled bin Ibrahim bin Abdullah Aljeraiwi of violating Article (31) of the Capital Market Law as well as Article (5) of the Securities Business Regulations for practicing securities business represented in the activity of (Managing), by managing two portfolios without obtaining a license from the CMA.

The decision included the imposition of a number of sanctions upon them according to the following:

First: Hassan bin Abdulkarim bin Ibrahim Almayouf:

1. Imposing a fine upon him amounting to (SR. 1,200,000) one million two hundred thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 2,489,396.54) two million four hundred eighty-nine thousand three hundred ninety-six Saudi Riyals and fifty-four Halalas against the illegal gains achieved in his two portfolios.
   
   Second: Shahd bint Ghudayr bin Saleh Alrasheed:

1. Imposing a fine upon her amounting to (SR. 200,000) two hundred thousand Saudi Riyals.
2. Obliging her to pay to the CMA account the amount of (SR. 231,181.50) two hundred thirty-one thousand one hundred eighty-one Saudi Riyals and fifty Halalas against the illegal gains achieved in her portfolio.
   
   Third: Saleh bin Ghydayr bin Saleh Alrasheed:

1. Imposing a fine upon him amounting to (SR. 100,000) one hundred thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 17,559.52) seventeen thousand five hundred fifty-nine Saudi Riyals and fifty-two Halalas against the illegal gains achieved in his portfolio.
   
   Forth: Latifa bint Fawzan bin Abdulrahman Alsulaiman:

1. Imposing a fine upon her amounting to (SR. 100,000) one hundred thousand Saudi Riyals.
2. Obliging her to pay to the CMA account the amount of (SR. 182,994.34) one hundred eighty-two thousand nine hundred ninety-four Saudi Riyals and thirty-four Halalas against the illegal gains achieved in her portfolio.
   
   Fifth: Omran bin Muhammad bin Omran Alomran:

1. Imposing a fine upon him amounting to (SR. 900,000) nine hundred thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 103,883.89) one hundred three thousand eight hundred eighty-three Saudi Riyals and eighty-nine Halalas against the illegal gains achieved in his portfolio.
   
   Sixth: Reem bint Muhammad bin Omran Alomran:

1. Imposing a fine upon her amounting to (SR. 300,000) three hundred thousand Saudi Riyals.
2. Obliging her to pay to the CMA account the amount of (SR. 191,100.41) one hundred ninety-one thousand one hundred Saudi Riyals and forty-one Halalas against the illegal gains achieved in her portfolio.
   
   Seventh: Afnan bint Muhammad bin Omran Alomran:

1. Imposing a fine upon her amounting to (SR. 400,000) four hundred thousand Saudi Riyals.
2. Obliging her to pay to the CMA account the amount of (SR. 1,607,380.07) one million six hundred seven thousand three hundred eighty Saudi Riyals and seven Halalas against the illegal gains achieved in her portfolio.
   
   Eighth: Ahmad bin Sa'ad bin Abdullah Alhuwaimel:

1. Imposing a fine upon him amounting to (SR. 100,000) one hundred thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 84,430.94) eighty-four thousand four hundred thirty Saudi Riyals and ninety-four Halalas against the illegal gains achieved in his portfolio.
   
   Ninth: Noura bint Abdullah bin Sa'ad Alhuwaimel:

1. Imposing a fine upon her amounting to (SR. 300,000) three hundred thousand Saudi Riyals.
2. Obliging her to pay to the CMA account the amount of (SR. 259,750.30) two hundred fifty-nine thousand seven hundred fifty Saudi Riyals and thirty Halalas against the illegal gains achieved in her portfolio.
   
   Tenth: Muhammad bin Abdullah bin Muhammad Alhoushan:

1. Imposing a fine upon him amounting to (SR. 200,000) two hundred thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 101,535.68) one hundred one thousand five hundred thirty-five Saudi Riyals and sixty-eight Halalas against the illegal gains achieved in his two portfolios.
   
   Eleventh: Ahmad bin Muhammad bin Abdullah Alhoushan:

1. Imposing a fine upon him amounting to (SR. 400,000) four hundred thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 997,921.40) nine hundred ninety-seven thousand nine hundred twenty-one Saudi Riyals and forty Halalas against the illegal gains achieved in his portfolio.
   
   Twelfth: Abdullah bin Muhammad bin Abdullah Alhoushan:

1. Imposing a fine upon him amounting to (SR. 200,000) two hundred thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 485,344.73) four hundred eighty-five thousand three hundred forty-four Saudi Riyals and seventy-three Halalas against the illegal gains achieved in his two portfolios.
   
   Thirteenth: Omar bin Muhammad bin Abdullah Alhoushan:

1. Imposing a fine upon him amounting to (SR. 200,000) two hundred thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 20,840.13) twenty thousand eight hundred forty Saudi Riyals and thirteen Halalas against the illegal gains achieved in his portfolio.
   
   Fourteenth: Khaled bin Ibrahim bin Abdullah Aljeraiwi:

1. Imposing a fine upon him amounting to (SR. 6,080,000) six million eighty thousand Saudi Riyals.
2. Banning him from trading directly or indirectly in the Exchange for Five years.
3. Banning him from brokerage business, managing portfolios or working as an investment advisor for Five years.
   
   Fifteenth: Muhammad bin Nasser bin Muhammad bin Omran:
   
   Imposing a fine upon him amounting to (SR. 100,000) one hundred thousand Saudi Riyals.
   
   The two decisions also included obliging a number of investors to pay to the CMA account the total amount of (SR. 5,536,758.13) five million five hundred thirty-six thousand seven hundred fifty-eight Saudi Riyals and thirteen Halalas against the illegal gains achieved in their portfolios that resulted from the illegal trading performed by the convicted persons; Khaled bin Ibrahim bin Abdullah Aljeraiwi, Omran bin Muhammad bin Omran Alomran and Muhammad bin Nasser bin Muhammad bin Omran.
   
   Furthermore, any person affected by these violations in this case is entitled to file a compensation claim (as individual or class action) with the CRSD for the damage he/she suffered from due to these violations, provided that such claim is preceded by a complaint filed with the CMA on this regard, via the following link: (File Complaint)
   
   Also, in regards to the violation of Article (31) of the Capital Market Law, any person who has entered into an agreement or contract with the convicted person; Khaled bin Ibrahim bin Abdullah Aljeraiwi, in relation to this violation is entitled to file a claim (as individual or class action) with the CRSD to request the rescission of the agreement or contract and the recovery of any money or other property paid or transferred under the agreement or contract, as per Article (60/b) of the Capital Market Law, provided that such claim is preceded by a complaint filed with the CMA on this regard, via the following link (File Complaint Link).
   
   However, the GS-CRSD will announce to the public on its website in case of registering any class action in order to enable the rest of investors affected by such violations to apply to the CRSD to join the class action.
   
   (To view the dates of trading and security in relation to the violation, click here​)​
   

​