Saudi Arabia strongly condemns Israeli decision to fully occupy Gaza    Prince Saud bin Mohammed Al Saud wins International Sword at Sandhurst    GASTAT: Nearly 70% of Saudis under age of 35    Elon Musk threatens to sue Apple for not ranking X or Grok among its top apps    Ukraine's borders must not be changed by force, EU leaders say    At least 100 Palestinians killed in Israeli attacks across Gaza    Jellyfish force shutdown of France's Gravelines nuclear plant after clogging cooling system    More than 2,000 evacuated from Spanish resort of Tarifa over advancing wildfire    Sudanese PM thanks Saudi leadership for unlimited humanitarian support    Saudi Arabia exit FIBA Asia Cup after overtime heartbreak against Philippines    Cristiano Ronaldo and Georgina Rodriguez announce engagement after eight years together    Bahri categorically denies transporting shipments to Israel    Saudi Arabia's ranking on Mining Investment Attractiveness Index jumps to 23rd from 104th globally    GASTAT: Saudi Industrial Production Index jumps 7.9% in June    Mexico accuses Adidas of cultural appropriation in sandal design    Saudi Film Commission invites local filmmakers to submit for first-ever Oscar entry    Al Hilal sign Uruguay striker Darwin Núñez from Liverpool    Al Ahli sign Enzo Millot from Stuttgart on three-year deal    Saudi woman donates 80% of her liver to co-wife in rare act of generosity    SFDA marks World Breastfeeding Week with awareness push on mother-child health    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Pakistani star's Bollywood return excites fans and riles far right    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



CMA urges investors to read terms, conditions of investment funds
Published in The Saudi Gazette on 10 - 08 - 2016

The Saudi Capital Market Authority (CMA) has urged investors in the local stock market to read the terms and conditions of the investment fund as well familiarize themselves with its memorandum of information and understand the degree of risks borne by the customer.
CMA also advised investors to consult financial advisors in case they did not fully understand information related to the investment fund before signing an agreement to subscribe in it.
According to data compiled by CMA's Investor Complaints Department, the number of complaints and inquiries received in the 2nd quarter of this year increased by 31 percent to 239 cases, in comparison to 182 cases received in the first quarter.
Statistics further showed that the number of complaints related to investment portfolios reduced by 33 percent to 16 complaints. Complaints related to agreements and contracts between investors and Authorized Persons (financial institutions licensed by CMA) reduced by 83 percent to 2 complaints only.
On the contrary, complaints related to investment funds increased by 15 percent to 15 complaints. Complaints related to IPO subscriptions and rights purchase have also increased to 4 cases. Complaints related to management of portfolios by individuals increased 124 percent to 38 cases, whereas complaints related to listed companies profits increased by 271 percent to 26 complaints.
CMA receives complaints which are related to the capital market such as: complaints related to investment funds, selling IPO shares at a lower cost than specified and the cancelation or suspension of service without referring to the client, and the inefficiency of the Authorized Person in managing the portfolio.
Other examples of complaints received by CMA include: market manipulation to influence the price of shares of listed companies, complaints against Authorized Persons for violating rules and regulations related to Authorized Persons issued by CMA, complaints filed against CMA regarding traders in the market or Authorized Persons, and the execution of securities transactions.


Clic here to read the story from its source.