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Financing & Investment Deputy The Financing & Investment Deputy contributes to achieving the CMA’s Policy Objectives by organizing and developing the offering of securities, collective investment schemes, and fintech products related to the capital market. This is as follows:
- Formulating and developing technical frameworks related to offering and issuing securities and collective investment schemes in the capital market.
- Managing applications submitted by companies regarding M&A activity.
- Managing and processing applications of offering securities and collective investment schemes in the Saudi market.
- Identifying the opportunities of enhancing and developing the deputy-related laws and implementing regulations and seeking to put them into effect.
- Assisting in creating an enabling the regulatory environment for the development of the capital markets.
- Overseeing and developing the fintech products
The Financing & Investment Deputy contains the following departments:
- Offering & Merger & Acquisition
- Finance & Investment Development
- Collective Investment Schemes Issuance
- Sukuk & Debt Instruments
- Issuance
- Fintech
Market Institutions Deputy
The Market Institutions Deputy contributes to achieving the CMA’s Policy Objectives by regulating and maintaining the supervision on the entry of the market institutions (capital market institutions, credit rating agencies, market infrastructure institutions) and foreign investors, besides developing its related business and following up on the trading processes in the capital market. This is as follows:
- Processing of all license and registration applications for market institutions and ensuring their compliance with the CML and its implementing regulations.
- Following up on and analyzing the trading transactions of the market and related institutions, coupled with identifying and addressing the violating behaviors.
- Reviewing and developing mechanisms of the market to verify its effectiveness.
- Identifying the opportunities of enhancing and developing the deputy-related laws and executive regulations and seeking to put them into effect.
- Identifying and addressing the violations and the suspicions of violating the CML and its implementing regulations, in accordance with the competency of the Deputy.
- Assisting the further development of the regulatory standards related to market institutions and trading in the market.
- Inspecting the market institutions to ensure their compliance with the CML and its implementing regulations.
- Undertaking comprehensive supervision of market institutions to ensure their compliance with the CML and its implementing regulations.
- Fostering and supporting tools of communication among market institutions.
- Fostering opportunities of the entry of foreign investors to the Saudi capital market.
- Cooperating with internal and external authorities to address challenges facing the business of capital market institutions.
- Ensuring the effectiveness of governance, risk, and compliance within the market institutions.
- Assisting the implementation of the national strategic objectives of AML & CFT, along with the national action plan.
- Regulating to open investment accounts by the capital market institutions.
The Market Institutions Deputy contains the following departments:
- Authorization
- Inspection
- AML & CFT
- Market Infrastructure Institutions Supervision
- Market Institutions Compliance
- Market Surveillance & Analysis
- Market Institutions Development
Supervision Deputy
The Supervision Deputy contributes to achieving the CMA’s Policy Objectives by supervising accounting offices, listed companies and the compliance of the collective investment schemes with the laws and regulations. This is as follows:
- Supervising the compliance of the financial statements of the listed companies with the accounting standards.
- Supervising the compliance of auditors of establishments subject to the CMA supervision with the related laws and regulations.
- Raising awareness of the listed joint-stock companies on the corporate governance and financial statements, and for the accounting offices and registered accountants, and in the compliance of collective investment schemes, to ensure the correct application of related implementing laws and regulations.
- Supervising the compliance of the listed companies’ with disclosure and corporate governance according to the related laws and regulations.
- Supervising the compliance of collective investment schemes with the related laws and regulations.
- Identifying the opportunities of enhancing and developing the deputy-related laws and executive regulations and seeking to put them into effect.
- Identifying and addressing the violations and the suspicions of violating the CML and its implementing Regulations, in accordance with the competency of the Deputy.
The Supervision Deputy contains the following departments:
- Corporate Governance
- Financial Reporting Supervision
- Collective Investments Schemes Compliance
- Auditors Supervision
Strategy, Research & International Relations Deputy The Strategy, Research & International Relations Deputy contributes to achieving the CMA’s Policy Objectives by managing the strategic planning processes, managing projects, supporting the CMA's efforts in sustainable financing, conducting financial and economic researches, and supporting the CMA’s engagement with international organizations and peer regulators. This is as follows:
- Leading the development of CMA’s strategic plans.
- Translating CMA strategic plans into actionable and measurable tasks, initiatives, and metrics.
- Assessing performance level of the organizational units.
- Following up on the implementation of CMA's strategic initiatives and providing support for the related strategic projects.
- Providing relevant specialized research-based results and recommendations to support the decision-making process in the CMA.
- Coordinating with the international organizations and regulators and contributing to the efforts regulating the capital markets.
- Supporting the achievement of national targets and commitments for sustainable development and climate change, leading sustainability efforts within the CMA, and improving the information and data environment relevant to the Saudi capital market sector.
The Strategy, Research & International Relations Deputy contains the following departments:
- Sustainability
- Strategy
- PMO
- Research
- International Relations & Organizations
Legal Affairs & Enforcement Deputy The Legal Affairs & Enforcement Deputy contributes to achieving the CMA’s Policy Objectives by preparing and developing the implementing regulations of the CMA, providing legal advice and opinions, conducting forensic inspections, investigating potential violations and misconduct activities and enforcing penalties and decisions against violators. This is as follows:
- Drafting, amending, and developing CMA's implementing regulations.
- Preparing and reviewing contracts, agreements, MoUs, and MoCs between the CMA and other authorities, and documents containing other legally binding documents clauses to the CMA.
- Ensuring that a thorough investigation is conducted into all material violations of the CML and its implementing regulations.
- Identifying the opportunities of enhancing and developing the deputy-related laws and executive regulations, and seeking to put them into effect.
- Providing internal legal advice and services that enable the CMA to achieve its strategic goals and policies.
- Handling all litigation proceedings brought against the CMA and protecting the CMA from all types of legal risks
- Administering and leading all legal proceedings brought by the CMA against violators.
- Enforcing and following up on the execution of the CMA and court issued decisions and penalties.
- Developing policies and models of developing of regulatory policies for the CMA, and reviewing the regulatory concepts proposed by the relevant CMA departments on the preparation or amendment of the implementing regulations of the CMA.
- Implementing forensic inspections of entities subject to the CMA’s supervision.
The Legal Affairs & Enforcement Deputy contains the following departments:
- Laws and Regulations
- Legal Advice
- Investigation
- Litigation
- Enforcement
- Forensic Inspections
Corporate Resources Deputy The Corporate Resources Deputy contributes to achieving the CMA’s Policy Objectives by providing human and financial resources, appropriate organizational structure, and requirements for completing tasks, and archiving documents in accordance with best practices and professional standards. This is as follows:
- Ensuring that human capital is carefully selected, trained and enabled.
- Managing all CMA internal finances, including financial reporting, and accounting.
- Managing all CMA facilities and services.
- Handling all procurement, sourcing and contract related activities within the CMA, ensuring compliance with contractual obligations.
- Providing administrative consultations, preparing organizational studies, governing internal policies and framing change management within the CMA.
- Managing activities related to archiving, storing, and printing documents across all CMA functions.
The Corporate Resources Deputy contains the following departments:
- Human Resources
- Finance
- Centre of Archives & Records
- Premises & Services Management
- Organizational Excellence
- Procurement & Contracts
Technology & Digitalization Deputy The Technology & Digitalization Deputy contributes to achieving the CMA’s Policy Objectives by delivering innovative solutions and governed business applications, ensuring the robustness of the technical systems infrastructure and the efficiency and effectiveness of internal processes. This is as follows:
- Providing the necessary support related to information technology to meet business requirements.
- Delivering innovative solutions to develop CMA’s services.
- Developing and managing digital platforms and applications.
- Maintaining and supporting digital platforms and applications.
- Leading and implementing government initiatives related to technology and digitalization.
- Operating and maintaining the technological infrastructure and maintaining the quality and continuity of the service provided.
- Ensuring governance framework applied to projects and technological and digital initiatives.
- Governing the implementation of the digital transformation plan.
- Ensuring the alignment of digital policies and standards with regulations and legislation in accordance with the digital government framework and international best practices.
- Improving the efficiency of processes and digital services.
- Formulating the data management methodology in CMA and managing its applications.
The Technology & Digitalization Deputy contains the following departments:
- Business Application
- Process Engineering & Business Analysis
- Business Technology Governance
- Technology
- Data Management Office
Communication and Investor Protection Division The Communication and Investor Protection Division contributes to achieving the CMA’s Policy Objectives by providing continuous access and communication to customers and participants in the capital market on updates and developments issued by the CMA, dealing with inquiries of the public, addressing investors’ complaints and reports, and measuring and developing the beneficiaries experience of the CMA’s services. This is as follows:
- Preparing and disseminating periodic internal and external the CMA communications
- Leading the CMA’s external media and public communications and interactions with the public, governmental institutions, and external stakeholders.
- Managing internal communications and disseminating information and updates related to the CMA.
- Holding conferences, information sessions, workshops, and meetings with stakeholders and market participants.
- Managing the image and brand of the CMA and ensuring positive sentiment towards the CMA is maintained.
- Managing the content and pages of the internal and external CMA’s website.
- Addressing investor complaints and communications, receiving claims for financial compensation for those affected in the capital market and receiving applications of joining class action suits.
- Identifying opportunities to improve and develop the laws and implementing regulations pertaining to Division, and seeking to put them into effect.
- Managing the CMA’s internal and external communication logistical activities.
- Developing the CMA’s communication channels with investors and stakeholders, supporting the flow of processing their inquiries and proposals, and forming a continuous link among them.
- Designing and measuring the beneficiaries experience from inside and outside the CMA and share its results with the competent units and relevant entities.
The Communication and Investor Protection Division contains the following departments:
- Communication
- Customer Experience
- Awareness
- Investor protection
- Contact Centre
Internal Audit Division The Internal Audit Division contributes to achieving the CMA’s Policy Objectives by evaluating the effectiveness of the risk, control and governance processes implemented according to the approved audit plan, enhancing integrity and contributing to establishing professional and ethical conduct in the CMA. This is as follows:
- Developing, preparing and implementing the internal audit action plan.
- Preparing internal audit reports, professional conduct reports, and internal compliance reports.
- Providing independent advice on how to improve and develop regulatory controls within internal audit works, the codes of professional conduct, and internal compliance to help achieve the CMA’s objectives.
- Escalating the discrepancies that appear while processing the requirements of the internal audit, professional conduct, and internal compliance to the Audit Committee.
- Reviewing and updating the codes of professional conduct periodically; in order to ensure its validity in providing guidance to the CMA’s employees.
- Designing a compliance program to ensure the extent of the CMA’s departments’ compliance with the laws, regulations, and circulars issued by the competent authority and identifying cases of non-compliance.
- Identifying opportunities to improve and develop the laws and implementing regulations pertaining to Division, and seeking to put them into effect.
The Internal Audit Division contains the following departments:
- Internal Audit
- Professional Conduct and Internal Compliance
Risk Management Division The Risk Management Division contributes to achieving the CMA’s Policy Objectives by providing ongoing internal risk management and information security for the CMA as well as external market risk management and mitigation. This is as follows:
- Defining and maintaining appropriate risk frameworks, methodologies and tools to facilitate effective operational (internal) and market (external) risk management by the CMA
- Assessing CMA’s core functions’ compliance with risk management controls, procedures, guidelines and recommended best practices
- Overseeing risk identification and assessment by the First line of Defence functions and providing an independent review regarding the effectiveness of their controls
- Developing and maintaining a comprehensive registrar of potential risk events
- Enabling senior management decision-making through providing objective advice on existing risks and ensuring the CMA has effective mitigation strategies and roadmaps in place for such risks
- Promoting a culture of risk awareness and mindfulness across the organisation
- Aggregating relevant information from Divisions, Departments and Units as well as external sources to provide actionable data-driven insights to senior management regarding flagged risks
- Contributing to advising the Board in preparation of Board decisions related to the Division’s mandate
- Synthesizing gathered intel and subsequently feeding suggestions for areas of policy development to Regulatory Policy Development function
The Risk Management Division contains the following departments:
- Internal Risk
- Market Risk
- Cyber Security
