​Based upon the Capital Market Law issued by Royal Decree No. (M/30) dated 2/6/1424H, the CMA Board of Commissioners issued its resolution dated 05/06/1445H corresponding to 18/12/2023G exempting Capital Market Institutions from the requirements of Article Forty-Two and Article Forty-Three of the Capital Market Institutions Regulations in the following cases:

(a) When conducting securities business activities with a client or for his account (ultimate beneficiary) who is a client of a capital market institution licensed to conduct management activities and takes investment decisions on behalf of its client.

(b) When conducting securities business activities with financial technology companies permitted by CMA to experiment Robo-Advisory service, and when conducting securities business activities with a client or for his account (ultimate beneficiary) who is a client of a financial technology company permitted by CMA to experiment Robo-Advisory service.

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