The stock market regulator has barred company directors from leaking inside information and obliged them to disclose the shareholdings of their spouses and children in a new rule introduced yesterday.
The Securities and Commodities Authority (SCA) has come under growing pressure to tighten rules on disclosure and transparency in a bid to win the confidence of foreign investors and gain emerging market status.
A company director must "respect the confidentiality of all information and data gained access to or that came to his knowledge as a result of his membership to the board, so long as the information is a classified one," the regulation published on the SCA website said.
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