Apr 26 2010 |
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Saudi bourse watchdog fines 2 listed firms
The Saudi bourse watchdog fined two listed firms a total of SR150,000 (Dh146,920) for violating bourse regulations, as the regulator seeks to boost transparency and appeal more to foreign investors.The Capital Market Authority fined insurance firm, Allied Cooperative Insurance Group , with SR50,000 for not immediately informing regulator of senior management changes and another SR50,000 for announcing their earning results late, it said in a statement yesterday.
Real estate firm Saudi Real Estate was also fined SR50,000 for delay in notifying the authority about changes in its senior management.
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