CMA fines Fawaz Alhokair, Salama for violating securities listing rules

04/11/2020 Argaam

Saudi Arabia's Capital Market Authority (CMA) imposed fines on Fawaz Abdulaziz Alhokair Co. and Salama Cooperative Insurance, amounting to SAR 40,000 and SAR 20,000, respectively.

 

According to the CMA's statement, Alhokair was fined due to violating the provisions of the securities listing rules and continued obligations, as well as for disclosing incorrect information about its preliminary financial results for the fiscal period ended on June 30, 2020.

 

Furthermore, Salama was fined for violating the provisions of the securities listing rules and continued obligation, as it failed to disclose its preliminary financial statements for the period ended on June 30, 2020.

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