Saudi firms fined over stock market disclosure

23 June 2010

Saudi Arabia's Capital Market Authority (CMA) has fined three firms up to $27,000 for breaching disclosure rules, Reuters has reported. Al Baha Investment and Development was fined SR100,000 ($27,000) for disclosing acquisition plans to the regulator after they were leaked to a website, while Methanol Chemicals (Chemanol) and Saudi International Petrochemical were fined SR100,000 and SR50,000, respectively, for other disclosure violations, CMA said.

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