Rangers have been fined £50,000 by the Plus stock exchange after they failed to disclose owner Craig Whyte had been previously disqualified as a director.
BBC Scotland investigated Mr Whyte's history, which prompted the London-based exchange to commence an inquiry.
The programme broadcast in October revealed that Mr Whyte had been banned from being a company director for seven years in 2000. Rangers did not announce this until 30 November, six weeks after it had been confirmed by the Insolvency Service in the BBC documentary. Last month the exchange suspended trading of Rangers shares after accounts were filed late.
The expose can still be watched online:
A PLUS statement read: "The amount of the regulatory fine has been determined taking into account a range of factors including, but not limited to, the seriousness of the rule breach and the circumstances of Rangers FC."
Two weeks ago Rangers were placed into administration over an unpaid tax bill.