By Mohamed Idris

Riyadh-Mubasher: Saudi Arabia’s regulator Capital Market Authority has imposed fines on 48 companies at a total value of SAR 1.74 million during the first quarter of 2015.

This figure is nearly 50% of the value of fines imposed in 2014.

According to data compiled by Mubasher, National Gypsum recorded the biggest number of fines, with three fines worth SAR 140,000.

Meanwhile, Banque Saudi Fransi (BSF) was fined for a violation that is regarded as the most serious one, as the bank failed to duly notify CMA and the public about  the board’s recommendation, dated January 9, to the extraordinary general meeting on increasing capital through bonus share distribution.

Translated by Sayed Abdel Rahman