The National Banking and Securities Commission (CNBV) fined businessman Ricardo Salinas Pliego 844,900 pesos for violating the Securities Market Law.
According to information from the financial regulator, the president of Grupo Salinas was sanctioned on July 11.
The CNBV stated that the sanction can be challenged and, to date, the businessman has not issued any statement in this regard and the sanction has not been settled.
“As a member of the board of directors of the Elektra group, on March 22, 2019, he sold shares representing the share capital of Elektra to which he was linked, without any public offer or auction authorized by the Commission,” said the commission headed by Jesús de la Fuente.
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In 2017, the commission imposed a fine of 2.26 million pesos on TV Azteca, which also belongs to Grupo Salinas.
The regulator’s decision was made because the company did not inform investors about movements in its operations through a “relevant event,” information that companies listed on the Mexican market are required to share with the Mexican Stock Exchange (BMV).
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