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OHL Fined for Illegal Stock Market Practices

The fines are the "highest ever" imposed by the National Banking and Securities Commission
By The News · 28 of March 2016 15:47:09
Sergio Hidalgo, director-general of OHL, at a press conference in January, FOTO: ISAAC ESQUIVEL /CUARTOSCURO.COM, No available

MÉXICO, D.F., 26ENERO2016.- Sergio Hidalgo, director general de OHL México, ofreció conferencia de prensa para hablar de las perspectivas de inversión en 2016, y aclarar los supuestos casos de corrupción de la empresa en el Estado de México. FOTO: ISAAC ESQUIVEL /CUARTOSCURO.COM

Sergio Hidalgo, director-general of OHL. Photo: Cuartoscuro.com/Isaac Esquivel.

The National Banking and Securities Commission (CNBV) announced fines totaling almost 72 million pesos against the company OHL Mexico, its subsidiaries and six executives, for violating regulations related to stock trading.

This fine “is the largest fine ever imposed by the CNBV as punishment for violating stock trading regulations,” stated a CNBV press release.

The resolution is the result of an investigation that started in May 2015 and ended in October of that year, when the CNBV detected illegal activity.

The violations were related to guarantees of profitability and spreading of false information that could lead investors to error.