Riyad March 18 2022: The Board of the Capital Market Authority issued its resolution to suspend the license granted to 99Hlala Capital Company (Previously named as Maceen Capital) to conduct Dealing as Principal, Underwriter, Investment Fund Management, Discretionary Portfolio Management, Arranging, Advising and Custody activities in the securities business, for the safety of the market and the protection of investors, based on clause (b) of Article Sixty-Two of Capital Market Law issued by Royal Decree No. (M/30) dated 02/06/1424H.
This comes in the context of the CMA’s efforts to ensure the safety of the market and the protection of investors, which enhances participants’ confidence in the market.
Source:
Capital Market Authority
