The Capital Market Authority (CMA), Saudi Arabia’s market regulator, said on Wednesday that it has imposed SAR 160,000 worth of fines on two bourse-listed companies on alleged violations.
Banque Saudi Fransi (BSF) was fined SAR 140,000 for delayed disclosure of the board’s recommendation on the bank’s planned capital hike.
National Co. for Glass Industries (Zoujaj) was fined SAR 20,000 for delayed disclosure of its preliminary financial statements for the fiscal period ending March 31, 2014.
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