Shareholders compensation rises to SAR 1.75 bln in 2022: CRSD official

08/06/2023 Argaam
Logo ofGeneral of the Committee for Resolution of Securities Dispute (CRSD)

Logo of General of the Committee for Resolution of Securities Dispute (CRSD)

Shareholders compensations increased to SAR 1.75 billion in 2022, a surge of 378% compared with a year earlier, said Adel Gabbani, Secretary General of the Committee for Resolution of Securities Dispute (CRSD).

 

Compensations in class actions reached SAR 1.2 billion, dominating nearly 70% of the total amount.

 

Meanwhile, compensations resulting from the violations of the Market Conduct Regulation and Article 49 of the Capital Market Law amounted to SAR 323.5 million in the same year.  Compensations from the practice of securities business without a license soared by 202% to SAR 53.2 million compared to 2021.

 

The number of compensated persons reached 1,262 in 2022, representing 97.5% of the total number of 1,294. Meanwhile, the number of affected institutions and investment funds reached 32, or 2.5% of the total.

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