Oman’s market watchdog Capital Market Authority (CMA) has made it mandatory for listed companies to disclose initial unaudited quarterly and annual results through the Muscat Securities Market within 15 days from the end of each quarter. This is part of amendments to the executive regulation of the Capital Market Law. Those who fail to disclose initial results within 15 days will attract a fine of OMR500, according to CMA sources. Detailed results will have to be announced within 30 days from the end of each quarter or end of the financial year. However, holding companies (or firms with subsidiaries) are given 45 days for announcing detailed financial results. Although the same regulation was in place since 2014, the CMA was unable to take penal action against those who do not comply with 15-day stipulation since it was more of advisory in nature. (Times of Oman)