PHOTO
RIYADH: Saudi Arabia’s Capital Market Authority has referred several individuals to the Public Prosecution for their alleged involvement in insider trading.
The action against the individuals was taken following monitoring of a social media group of 250 members, Argaam reported citing a CMA statement. The group members, according to the authority, were found to be sharing internal information about several listed companies.
Some of the group members were employed with the companies they leaked information about, while the group admin reportedly managed several investment portfolios illegally and used social media to manipulate prices.
Copyright: Arab News © 2021 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
