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The Capital Market Authority (CMA) in Saudi Arabia has the primary authority to monitor and regulate securities and capital markets, including the Tadawul Stock Exchange. In May 2024, the Capital Market Authority announced that Turki Aldakhil, the former Saudi ambassador to the UAE, and 13 investors, were convicted of violating the Capital Market Law (CML) and its implementing regulations due to placing purchase orders that affected the share price.[1] According to Alhurra News, Aldakhil admitted on the X platform that he had violated his investment portfolio's rules for unlawful profits.[2] The Capital Market Law, as per Royal Decree No. (M/30) Dated 31/7/2003, is the main law responsible for governing the investment portfolio. The law's Article 49/C (3) forbids manipulating the price of a traded security on the exchange through a sequence of transactions, including buying, selling, or buying and selling.