<p>The Committee for the Resolution of Securities Disputes (CRSD) and the Appeal  Committee for the Resolution of Securities Conflicts (ACRSC) are quasi judicial  committees in The Kingdome of Saudi Arabia (KSA). Both committees have  jurisdiction in the consideration of Securities Disputes. The Capital Market  Authority (CMA), as obliged by article 25(a) of the capital market law (CML), to  establish a committee for the Resolution of Securities Disputes. This committee  has the jurisdiction over the disputes falling under the provisions of the CML,  the implementation of the, regulation, along with the rule and instructions  issued by the CMA and the Saudi Stock Exchange with respect to both public and  individual actions. In addition, article 25(c) has given the CRSD the  jurisdiction to consider the claims against decisions and actions which will be  issued by the CMA or the Saudi Stock Exchange. According to article 25(f) of the  CML, the CML must give the appeal mechanism on the CRSD a decision before the  ACRSC, within thirty days from CRSD notification date. The ACRSC jurisdiction  shall have the right to confirm or refuse to review CRSD decisions or undertake  a de novo review of the claim based on the record at the hearing before CRSD to  issue the appropriate decision. Thus, the decisions of ACRSC are final and  cannot be appealed.<br /><br />Board of the CMA has issued a new regulation with  respect to the Procedures of Resolution of Securities Disputes (PRSD) under  resolution No (01-04-2011) dated 19/02/1432H corresponding 23/01/2011 to,  pursuant to the Capital Market Law issued by the Royal Decree No (M/30) dated  02/06/1424H, corresponding to 31/ 07/ 2003G. This regulation contains 50  articles divided into 11 chapters. The PRSD shows how the defended claim and  complaint before the CRSD and ACRSC; moreover, this regulation shows all the  steps which can be performed with respect to Securities Disputes. Thus, this  regulation will contribute to the regulating of litigation before the  committees.<br /><br />In conclusion, it can be said that CRSD and ACRSC are fully  independent to discharge their duties. This because article 25 of CML had  stipulated the formation of litigation bodies that is specialised in securities  disputes and fully independent to issue decisions.</p>