The Saudi bourse regulator is investigating research notes by some brokerages and investment management firms on suspicion of seeking to mislead investors, a newspaper reported yesterday.
Capital Market Authority (CMA) spokesman Abdulaziz Alzoom was not immediately available to comment on Al Watan's report, in which it cited an unidentified CMA official as saying some recommendations could be based on "suspicious interests".
The newspaper did not name any firms.
Since the 2006 crash, the CMA has licensed dozens of brokerage and investment management firms widening the business which had been open only to banks in a bid to boost transparency and institutionalise more retail liquidity.