Saudi market authority issues bourse violation fines

31 January 2010

An appeals panel of Saudi Arabia's market regulator, Capital Market Authority (CMA) has issued a final ruling in the case of the six men found guilty of violating trading regulations in transactions with shares in Tihama Advertising and Public Relations Co in 2006, Reuters has reported. One of the investors was fined SR200,000 and ordered to pay back SR142.8m which CMA said were gains he made in these transactions.

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