​The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 140,000 (One Hundred and Forty Thousand Saudi Riyals) on the Saudi Arabian Cooperative Insurance Company (SAICO) due to its violation of clause (B) of Article (40) of the Listing Rules. The company was late to inform the public on the Saudi Stock Exchange ( Tadawul)’s website  about Preliminary financial results for the period ending on 31/03/2014. The company announced it only less than two hours before the market opens on 21/04/2014. It was also late to inform the public about its financial results for the period ending on 30/06/2014 which was announced only less than two hours before the market opens on 20/07/2014.