The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 20,000 (Twenty Thousand Saudi Riyals) on Gulf Union Cooperative Insurance Company
due to its violation of clause (A) of Article (9) of the Corporate Governance Regulations. The Board of Directors’ Report for the fiscal year 2013 did not include the provisions that were not implemented from the Corporate Governance Regulations and the reasons behind that.
