Article 118 of Capital Markets Authority Law

Any insider who sells or purchases a security while in possession of inside information concerning it, discloses inside information, or gives advice based on inside information to another person shall be punished by imprisonment for a term not exceeding five years and a fine not less than the value of the benefit obtained or losses avoided, or ten thousand dinars, whichever is higher, and not exceeding three times the value of the benefit obtained or losses avoided, or one hundred thousand dinars, whichever is higher, or by either of these two penalties. The same penalties shall also apply to any person who purchases or sells a security on the basis of inside information obtained from an insider, knowing the nature of that information, for the purpose of obtaining any benefit for himself or another.