The Capital Market Authority (“CMA") Announces lifting suspension of all licenses granted to “SaudiMed Investment Company" to conduct Dealing, Managing Investments and Operating Funds, Arranging, Advising, and Custody activities in the securities business, due to the Company compliance to meet prudential requirements.

The suspension decision comes in accordance with the Capital Market Law issued by Royal Decree No. (M/30) dated 02/06/1424H and its Implementing Regulations, and moving forward from CMA's role in monitoring the prudential of the market institutions, investigating any violations and taking necessary actions, in case of correcting such violations, to help on improving the efficiency of the market and companies, encouraging investment, developing the capital market and applying advanced rules and procedures that contribute to increasing the local capital market efficiency and transparency.  

The suspension decision issued today came after CMA's announcement on 14/07/1443 H corresponding to 15/02/2022 G, in regards to the suspension of all licenses granted to SaudiMed Investment Company due to the Company non-compliance to meet prudential requirements.

It is worth mentioning that CMA has approved the Amended Prudential Rules, January 2023. The main elements of the Amended Rules are updating the prudential requirements for carrying out the securities business, updating the methodology used to calculate the minimum limit of capital adequacy, and facilitating the prudential requirements for investment management, arrangement, and advisory activities, which is in line with the nature of such activities.