Aggregated News From Investment Management Regulators

Saudi Arabia

The Capital Market Authority announces suspension of some provisions of the Companies Law

In reference to the Royal Decree No. (15016) dated 16/03/1442 AH regarding the suspension of some provisions of the Companies Law issued by Royal Decree No. (M / 3) dated 28/01/1437 AH, and in reference to the joint coordination between the Capital Market Authority and the Ministry of Commerce, the Capital Market Authority would like to clarify the content of Royal Decree regarding listed joint stock companies, as it includes the following: 1.  Exemption to the provision of Article (150) of the Companies Law: (A) Extension of the period for which the board of directors must invite the extraordinary general assembly...

The Capital Market Authority Approves “Instructions on Issuing Depositary Receipts Out of the Kingdom

Page Content The Capital Market Authority (CMA) Board approved the “Instructions on Issuing Depositary Receipts Out of the Kingdom” which aim to set out the regulatory framework for the issuance of depository receipts out of the Kingdom of Saudi Arabia for shares issued in the Kingdom and listed in the Saudi Stock Exchange; or shares issued in the Kingdom and its issuer has made the necessary arrangements for listing them in the Exchange. These instructions come for the purpose of opening the Saudi financial market to foreign markets and contributing to build an advanced global financial market, in addition to...

Capital Market Authority: “We Closely Observe the Capital Market and Review All Precautionary Measures on an Ongoing Basis to Ensure its Stability.”

Page Content ​In line with the precautionary measures adopted by the Kingdom of Saudi Arabia to curb the spread of COVID-19; and in reference to the Saudi Stock Exchange’s (Tadawul) announcement on the temporary reduction of trading hours; the Capital Market Authority (CMA) confirms its continuous support of the health of the investment society and all its participant. Nevertheless, The CMA has taken several precautionary measures to further assist market participants in these exceptional circumstances. Such measures include suspension of General Assemblies for listed companies until further notice and hold them via modern technology means, availability of e-voting for shareholders through...

Holding Listed Companies’ Assemblies Remotely and Suspension of Physical Attendance

Page Content ​The Capital Market Authority Board issued today its decision to suspend holding assemblies for companies listed in the capital market until further notice, and to hold such assemblies remotely via modern technology means that would enable shareholders to participate in their deliberations and vote on their decisions through “Tadawulaty” system provided by the Securities Depository Center Company “Edaa”. This decision comes for the safety of the participant in the capital market and in support of the preventive efforts exerted by the relevant health authorities to address the novel Coronavirus (COVID-19), and as an extension of the continuous efforts made...

The Capital Market Authority Approves Securities Central Counterparties Regulations

Page Content ​The Board of the Capital Market Authority (CMA) issued today its decision to approve the Securities Central Counterparties Regulations. The approved regulations aim at regulating the securities clearing activities in the Kingdom, and specifying the procedures and conditions for obtaining an authorisation to carry out such activities; which will contribute to introducing new securities classes such as derivatives, in addition to guaranteeing the settlement and fulfillment of obligations of transactions party, which will in turn strengthen the capital market current infrastructure and enhance its efficiency. Furthermore, the approval of the Securities Central Counterparties Regulations was based on the amendments...

The Capital Market Authority Announces the Adoption of the Amended Rules on the Offer of Securities and Continuing Obligations

Page Content In continuance to the Capital Market Authority's (CMA) effort to regulate and develop the capital market, in addition to deepening it and promoting its role in raising capital, which were included in the CMA's strategic objectives to enhance the attractiveness of the market for investors of all classes under the pillar of facilitating funding, one of the pillars of the CMA's strategic plan (Financial Leadership Program 2019-2021), and in line with (the Financial Sector Development Program) one of the main programs to achieve the objectives of Saudi Vision 2030. The CMA Board has adopted the amended Rules on the...

Chairman of the Capital Market Authority Thanks the Leadership for Approving the Amendment of the Capital Market Law

Page Content ​His Excellency Mr. Mohammed bin Abdullah Elkuwaiz, Chairman of the Capital Market Authority expressed, in his name and on behalf of the employees of the Authority, gratitude and appreciation to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al-Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Deputy Prime Minister and Minister of Defense, for the Council of Ministers' issuance of the resolution approving the amendment of the Capital Market Law issued by Royal Decree no. (M/30) dated 02/06/1424H. Mr. Elkuwaiz announced that these amendments aims to enhance the role of...

CMA in Collaboration with GAZT Hold Workshop for Tradable Real Estate Investment Funds Managers to Explain Zakat Calculation Mechanism

Page Content ​The Capital Market Authority (CMA), represented by the Deputy for Listed Companies & Investment Products in collaboration with the General Authority of Zakat & Tax (GAZT), held a workshop titled "The Mechanism of Zakat Calculation and Zakat for Tradable Real Estate Investment Funds", on Wednesday, 3rd of July, 2019 in Riyadh. The workshop was part of CMA's efforts to reach out to participants in the capital market and raise awareness of the mechanism for calculating Zakat of tradable real estate investment funds (REITs). Mr. Abdullah Bin Ghannam, CMA Deputy for Listed Companies & Investment Products, explained that placing tradable...

The CMA Approves the Instructions for the Foreign Strategic Investors’ Ownership in Listed Companies

Page Content The Capital Market Authority's (CMA) Board approved the "Instructions for the Foreign Strategic Investors' Ownership in Listed Companies" ("the Instructions"), which will be effective as of the date of their publication. These Instructions are aimed at the foreign legal person who intends to own a strategic shareholding in the listed companies, and for which the aim is to promote the financial or operational performance of the listed companies on the long-term ("foreign investor"). Among the most prominent aspects and features of the Instructions are that they allow the non-financial foreign investor to invest in the Saudi capital market after...

The Capital Market Authority Announces its Resolution Regarding the Procedures Imposed on Companies Applying For Opening The Financial Reorganization Procedure

Page Content ​In continuation to the CMA's role in regulating and improving the Capital Market, the CMA has issued its Resolution regarding the procedures undertaken toward companies that apply for opening the Financial Reorganization Procedure. The CMA Resolution specified the procedures that will be implemented on the listed companies (issuers) when submitting an application to the court for commencing a financial restructuring procedure set under the Bankruptcy Law issued by The Royal Decree number (M/50) dated 28/05/1439H and its Regulation issued by Council of Minister number (622) dated 24/12/1439H, and specified these procedures as follows: Trading of listed securities of an...

The CMA Adopts the Amendment of the “Regulatory Rules and Procedures Issued pursuant to the Companies Law relating to Listed Joint Stock Companies“

​​​The Board of the Capital Market Authority (Authority) issued its resolution on 15/09/1440H corresponding to 20/05/2019G adopting the amended Regulatory Rules and Procedures Issued pursuant to the Companies Law relating to Listed Joint Stock Companies, to be effective upon their publication date. These amendments come in continuance to Authority's objectives to regulate and develop the Capital Market and contribute to achieving its strategic objectives by enhancing confidence and raising the level of governance and disclosure in the Capital Market. Among the most prominent amendments on the Regulatory Rules and Procedures are the amendment of Part 4 “Buy-back, Sale, Pledge of...

The CMA Adopts the Amendment of the “Corporate Governance Regulation”

Page Content ​The Board of the Capital Market Authority (Authority) issued its resolution on 15/09/1440H corresponding to 20/05/2019G adopting the Amended Corporate Governance Regulations in light of the amendment of the Companies Law issued by Royal Decree number (M79) dated 25/07/2018G. The amended Regulations will be effective upon their publication date. These amendments come in continuance to Authority's objectives to regulate and develop the Capital Market and contribute to achieving its strategic objectives by enhancing confidence and raising the level of governance in the Capital Market. Among the most prominent amendments on Corporate Governance Regulations are the amendment of paragraph (3)...

Regulator Information

Regulator Name: Capital Market Authority
Abbreviation: CMA
Jurisdiction: Saudi Arabia

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