CMA slaps Weqaya Takaful board members with fines

28/05/2018 Argaam

Saudi Arabia's market regulator, the Capital Market Authority (CMA), has imposed a fine of SAR 100,000 on Weqaya Takaful Insurance and Reinsurance’s board members; Ahmed bin Suliman Al Batah and Ali Al Suhaily each for violating market rules.

 

The CMA slapped Al Batah and Al Suhaily with a fine of SAR 8.44 million and SAR 1.13 million for illegal profits made by their investment portfolios due to these violations, the regulator said in a statement.

 

They will be also banned from trading equities on Tadawul for three years.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.