CMA fines Walaa Insurance, Thob Al Aseel, Fawaz Alhokair on violations

07/10/2019 Argaam

The Capital Market Authority (CMA) has imposed a fine of SAR 20,000 on Walaa Cooperative Insurance Co., as the insurer did not disclose its interim financial statements for the period ending on March 31, 2019 within the specified period.

 

The market regulator also imposed a fine of SAR 20,000 on Fawaz Abdulaziz Alhokair Co., due to its delay in disclosing its board of directors’ report for the period ending on March 31, 2019 within the specified period.

 

Additionally, a fine of SAR 10,000 was imposed on Thob Al Aseel Co., as the Nomu-listed firm did not disclose its board’s report for the FY ending on Dec. 31, 2018 within the specified period.

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