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Saudi Arabias bourse regulator is probing 92 cases of suspected violations including price manipulation and improper disclosure, the regulators chief said in remarks published on Saturday.
There are 92 cases in the phase of subpoenaing and interrogation, Okaz newspaper quoted Abdul-Rahman al-Tuwaijri, chairman of the Capital Market Authority (CMA), as saying.
The cases are among 151 cases registered last year which involve suspected manipulation, misleading, and irregular disclosures and trading, he said.
We have also filed lawsuit against violators ... But we cannot announce it until verdicts are pronounced, he added.
Like others in the Gulf region, Saudi Arabias stock exchange has been tainted by allegations of insider trading and manipulation of stock prices, and CMA has slapped hefty fines on many investors and executives found guilty of manipulation.
Analysts say CMA needs to make adherence to corporate governance regulations compulsory for listed firms instead of voluntary in order to achieve greater progress in boosting transparency in the Arab worlds largest stock market.
The introduction of technical short-selling in Abu Dhabi Securities Exchange (ADX) will help to attract more institutional investors, boost liquidity and bring the market more in line with internatio
Banks led the Saudi Arabian stock market higher on Thursday after Riyad Bank reported better-than-expected earnings for the third quarter, while builder Drake & Scull jumped in Dubai.
Nasdaq Dubai welcomed today’s listing of a 200 million US dollar bond by Investment Corporation of Dubai (ICD) on the region’s international stock exchange.
The issuance was made under IC
Media Office, Dubai Government
The UAE can become the listings and equities trading hub for the Middle East by "aggressively" reaching out to entice companies in other territories, particularly in Africa, to list on the country's
Companies listed on the Muscat Securities Market (MSM) have posted ‘better than expected’ financial results for the first nine months of 2017, according to stock market analysts.
Times of Oman