Riyadh: The Capital Market Authority (CMA) has announced the successful completion of compensation for investors impacted by violations related to the shares of Watani Iron Steel Co. These violations occurred both before and after the company's listing on the Parallel Market (Nomu). The infractions were carried out by five individuals who were convicted under the decision of the Appeal Committee for Resolution of Securities Disputes (ACRSD). This decision was initially published on the websites of the CMA and the GS-CRSD on April 4, 2024. Following the penal lawsuit filed by the Public Prosecution and referred by the CMA, the individuals were ordered to pay SAR 41.4 million in illegal gains derived from their actions.

According to BERNAMA News Agency, the compensations were distributed to the affected investors through the Compensation Fund, which was established by a resolution of the CMA's Board. The fund was specifically created to ensure that affected parties receive their due compensation according to the distribution plan sanctioned by the CRSD. This arrangement streamlines the compensation process, ensuring that entitlements are efficiently delivered to the rightful recipients.