​The Capital Market Authority “CMA” will conduct three one-day introductory workshops regarding the recently announced Prudential Rules. These three workshops will be conducted to all Authorized Persons and other groups from 10th-12th of June 2012 at CMA’s Headquarters in Riyadh.

Dr. Abdulrahman Al Tuwaijri, the Chairman of the CMA, explained that this is a specialized workshop held in cooperation with NASDAQ OMX to provide an overview and explanation of the requirements and standards of the Prudential Rules, and to also address any enquiries by the participants.

These rules are schedule to be applied during this year as part of the CMA’s effort to enhance the protection of investors and maintaining a fair and stable market in which Authorized Persons remain financially sound and have adequate capital requirements. The main purpose of the Prudential Rules is to ensure Authorized Persons have the requisite capital adequacy and net capital to cover its financial obligations if needed. The Prudential Rules takes into account the best international practices and standards and incorporate the requirements of Basel II and Basel III.

Previously, the CMA has published the draft Prudential Rules on CMA’s website to enable concerned and interested parties to provide their comments and observations.