JEDDAH: The Capital Market Authority has imposed fines valued at SR 300,000 on five companies listed on the Saudi bourse for violating corporate disclosure regulations, the CMA announced yesterday.
Mediterranean & Gulf Insurance & Reinsurance Co. (MEDGULF), Riyad Bank (RIBL), Saudi Steel Pipe Co. (SSP) and Tabuk Cement (TACCO) were each fined SR 50,000, the regulator said in a report carried by the Saudi Press Agency.
Saudi Indian Co. for Cooperative Insurance was fined SR 100,000, it said.
5 firms fined SR 300,000
