“Securities” fine two companies 160,000 dirhams for non-disclosure
The Securities and Commodities Authority imposed a fine on two foreign companies listed on the Dubai Financial Market, worth 160,000 dirhams, for violating the applicable disclosure and transparency regulations.
The Securities clarified that the first fine is 80,000 dirhams, and the second is the same, for the two companies ’failure to disclose the preliminary annual financial statements for the year 2019, which constitutes a violation of the disclosure and transparency system in force in the country.