Damascus-SANA
Today, the Board of Commissioners of the Securities and Markets Authority issued several decisions that included imposing penalties on a number of companies for their delay in submitting financial statements within the legal deadlines, in violation of the disclosure and transparency system.
The penalties included fines of one million Syrian pounds against the Amrit Company for Investment and Tourism Development, the Union Cooperative Insurance Company, Syriatel Mobile Telecom and the Syrian Kuwaiti Insurance Company.
The authority also imposed a warning penalty against both the United Insurance Company and the Al-Aqeelah Takaful Insurance Company for their delay in submitting mid-year data for the year 2021.
The Authority works on regulating and developing the financial markets and the activities and events attached to them in a way that ensures the achievement of justice, efficiency and transparency, and contributes to reducing the risks associated with securities transactions.
Ahmed Souliman
