Fines for men who violated Saudi trading regulations

Calcutta News.Net
Saturday 30th January, 2010

Six investors in Saudi Arabia have been fined by the Saudi Stock Exchange regulator.

The regulator has ordered them to pay a total of
US$74.16 million after they were found guilty of violating trading regulations in transactions with shares in the Tihama Advertising company.

In a statement on the stock exchange website, it was noted that one of the investors was fined and ordered to pay money back on gains in transactions on the shares.

Four of the six investors were banned from trading in shares of listed firms or working for such companies for three years.

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