Saud Al-Shammari

Chairman of the First Circuit

Saud Al-Shammari chairs the first circuit of the Committee for the Resolution of Securities Disputes in Saudi Arabia. The committee is a specialised judicial body established under the Capital Market Law issued in 1424 AH, with jurisdiction over disputes and claims arising from the application of that law, its implementing regulations, and the rules of the Capital Market Authority, the Saudi Exchange and the Securities Depository Center. Its circuits hear both civil and penal securities cases, including compensation claims and cases of market manipulation and insider trading. Its rulings are issued at first instance and are subject to appeal before the Appeal Committee for the Resolution of Securities Disputes. The committee has introduced remote hearings to speed up the disposal of cases, and it is one of the points at which financial legislation meets its judicial application in the market.