Saudi Arabia's market regulator, the Capital Market Authority (CMA), has imposed a fine of SAR 460,000 on Fahad bin Abdulrahman bin Abdullah Alsmari for violating market rules.

 

Alsmari unlawfully traded shares of several Saudi-listed companies in the period from March 12 to June 9, 2014, the regulator said in a statement.

 

The CMA also ordered the investor to pay SAR 2.9 million for illegal profits made by his investment portfolios due to these violations.

 

Alsmari will be banned from trading equities on Tadawul for three months.

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