Saudi CMA Fines Fawaz Abdulaziz Alhokair Co for Violating Disclosure Rules

Saudi Arabia’s Capital Market Authority (CMA) has imposed a fine of 20,000 Saudi riyals ($5,330) on Fawaz Abdulaziz Alhokair Co for breaching disclosure regulations, the regulator said in a statement on Sunday.

The company violated Paragraph (C) of the General Instructions for Companies’ Announcements by failing to publish its annual financial statements for the period ending Dec. 31, 2023, within the specified timeframe on the Saudi Stock Exchange (Tadawul), the CMA added.

The regulator stressed its commitment to ensuring transparency and adherence to market rules to maintain investor confidence.