Saudi regulator slaps 81 firms with fines at SAR 4.72 mln in 2015

Saudi Arabia’s Capital Market Authority (CMA), the kingdom’s market regulator, has issued SAR 4.72 million ($1.3 million) in fines to 81 Tadawul-listed companies this year, a study conducted by Argaam Research showed.

A total of 102 penalties were accounted for between January and June 17, with some companies multiple fines.

In January, the regulator issued 23 fines in total, worth about SAR 870,000. June saw the highest value at SAR 1.58 million.

Sanad Insurance and Reinsurance Cooperative Co. was slapped with the heftiest single fine of SAR 700,000 during the month, accounting for 15 percent of total penalties.

Al-Ahsa Development came second with a penalty of SAR 260,000, or six percent of total penalties.

Total Fines Issued by Month
Value (SAR)	Number of fines	Month
870,000	23	Jan.
540,000	13	Feb.
450,000	21	March
630,000	14	April
650,000	13	May
1,580,000	18	*June
4,720,000	102	Total
*As of June 17

Fined Companies
Value (SAR)	Number of fines	Company
820,000	2	Sanad Insurance
280,000	2	Al-Ahsa Development
190,000	3	Saudi Cable
180,000	2	Zain
140,000	3	National Gypsum Co.
140,000	1	Banque Saudi Fransi
140,000	1	SAICO
120,000	2	Thimar
120,000	2	Wafa Insurance
120,000	1	Atheeb
120,000	2	Maaden
120,000	2	Trade Unoin
100,000	1	Emaar Economic City
100,000	1	Saudi Investment Bank
100,000	1	Saudi Real Estate Co.
100,000	1	Al Rajhi Company for Cooperative Insurance
100,000	1	Al Jouf Cement
90,000	1	Dallah Healthcare
80,000	2	Mubarrad
70,000	1	Tasnee
70,000	3	Walaa Insurance
70,000	1	Advanced Petrochemical Co.
60,000	1	Al Rajhi Bank
60,000	2	Saudi Fisheries Co.
40,000	2	Southern Region Cement
40,000	1	Saudi Airlines Catering
40,000	1	Saudi Chemical Co.
40,000	1	STC
40,000	1	Saudi Ceramic Co.
40,000	2	Bupa Arabia
40,000	2	Solidarity
40,000	1	Salama Insurance
40,000	1	Tabuk Agricultural Development Co.
40,000	1	Al Sagr Cooperative Insurance Co.
30,000	1	SABB
30,000	1	Wafrah
30,000	2	Gulf Union Cooperative Insurance Co.
30,000	1	Najran Cement
30,000	1	Red Sea Housing Services Co.
30,000	1	Bank AlJazira
30,000	1	Halwani Bros.
30,000	1	SABIC
30,000	1	Jazan Development Co.
30,000	1	National Gas and Industrialization Co.
20,000	1	NADEC
20,000	1	Northern Region Cement Co.
20,000	2	Bawan
20,000	1	The National Company for Glass Industries
20,000	2	SABB Takaful
20,000	1	Bank Albilad
20,000	1	United Cooperative Assurance Co.
20,000	1	Arabian Pipes Co.
20,000	1	Saudi Vitrified Clay Pipes Co.
20,000	1	Riyad Bank
20,000	1	Al Hokair
20,000	1	Saudi Kayan
20,000	1	Al Alamiya for Cooperative Insurance Co.
20,000	1	Dar Alarkan
20,000	1	Altayyar
20,000	1	Tabuk Cement
10,000	1	City Cement
10,000	1	Hail Cement
10,000	1	Saudi Paper Manufacturing Co.
10,000	1	Wataniya Insurance Co.
10,000	1	SAMBA
10,000	1	Saudi Industrial Investment Group
10,000	1	Al Hammadi
10,000	1	Saudi Arabia Refineries Co.
10,000	1	Al Khaleej Training and Education Co.
10,000	1	The Company for Cooperative Insurance
10,000	1	Eastern Province Cement Co.
10,000	1	Anb Insurance
10,000	1	Chemanol
10,000	1	Maadaniyah
10,000	1	Saudi Pharmaceutical Industries and Medical Appliances Corp.
10,000	1	Shaker Co.
10,000	1	Saudi Enaya
10,000	1	Al Abdullatif
10,000	1	Al Sorayai Group
10,000	1	Al-Ahlia Insurance Co.
10,000	1	Umm Al-Qura Cement
4,720,000	102	Total

Argaam Reports

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