Monday 25 January 2010

Saudi Capital Markets Authority Levies Fine on CEO of Sadafco



The Saudi Capital Markets Authority announced it had fined the CEO of Sadafco SAR 50,000 for disclosure of "inside information" on the company's 1Q 2009 earnings.  If I'm not mistaken the CEO of Sadafco is a non Saudi.  No name was given in the announcement and so I'll refrain as well from providing a name.

Of late the CMA has been increasing the pace and rigor of its monitoring and enforcement actions.

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