Summary - The Saudi Capital Market Authority refers 17 suspects from the board of directors of Sinomy to the Public Prosecution

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May 20 (Reuters) - Saudi Capital Market Authority:

  • Seventeen suspects were referred to the Public Prosecution, including members of the board of directors of Sinomy Company, the CEO, several financial managers, and members of the audit committee.

  • The referral is due to suspected violations of the Capital Markets Act and Market Conduct Regulations, as well as suspected violations of the Companies Act.

  • The Public Prosecution filed the criminal case against the suspects with the Securities Disputes Settlement Committees.

  • The referral to the Public Prosecution came in accordance with the decision of the Capital Market Authority Board, based on the results of the criminal investigation conducted by the team formed by the Authority.


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