The Georgian National Communications Commission has issued Caucasus Online with another GEL 270,000 fine for selling shares without the Commission’s prior approval. The company was first instructed to revert its shareholding to the pre-sale status quo on 17 October 2019 but has failed to comply to this day. For that reason, Caucasus Online has been fined for the fourth time.

If the authorized entity fails to comply with the aforementioned instructions until 1 May, GNCC may consider revoking the company’s authorisation.

The Commission first ruled the sale of company shares without GNCC’s prior approval as unlawful on 17 October 2019 and instructed Caucasus Online to reverse the transaction. As the company failed to comply with the ruling, it was fined GEL 30,000 on 12 December 2019, and then GEL 90,000 on 6 February 2020 for continued non-compliance. Caucasus Online had to revert its shareholding to the pre-sale status quo until 22 February, but once again failed to comply.

According to the Law of Georgia on Electronic Communications, a repeat violation occurring in the space of a year is subject to a financial penalty. Therefore, during its meeting on 12 March, GNCC issued Caucasus Online with a GEL270,000 fine.