The Saudi Capital Market Authority (CMA), the stock market regulator, has fined 13 companies for violating disclosure and transparency rules, including withholding fundamental news, and publishing late or misleading financial results.
|
Companies in Violation of Regulator Rules |
|
|
Fines (SAR mln) |
Entity Name |
|
30,000 |
Saudi Cable Company |
|
30,000 |
Bupa Arabia for Cooperative Insurance Company |
|
10,000
|
MetLife/AIG (American International Group & Arab National Bank Cooperative Insurance Company) |
|
10,000 |
Chemanol (Methanol Chemicals Co.) |
|
20,000 |
Arabian Pipes Company |
|
10,000 |
National Metal Manufacturing & Casting Company |
|
30,000 |
National Gas & Industries Company |
|
10,000 |
Eastern Cement Company |
|
40,000 for two violations |
National Gypsum Company |
|
30,000 |
Jazan Development Company |
|
10,000 |
Bawan Company |
|
20,000 |
United Cooperative Assurance |
|
20,000 |
Bank Albilad |
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