As part of the Capital Market Authority's ("CMA") continuous efforts to develop the capital market and protect investors, and based on the Capital Market Law ("CML") issued by the Royal Decree Number (M/30) Dated 2/6/1424 H, the CMA Board has issued its Resolution which includes publishing the draft amended Listing Rules ("Rules") on the CMA’s website (indicated below) to enable concerned and interested parties to provide their comments and observations.
These proposed amendments also come as part of the various efforts and initiatives to develop the capital market in the Kingdom. One of the main initiatives to reach the CMA's goals is by developing the CMA’s Implementing Regulations and applying the provisions of the CML through the current joint project between the CMA and the Saudi Stock Exchange (Tadawul) for the purposes of separating the functions and jurisdictions between both entities as per the relevant CML provisions, in which the working-teams appointed for such project will conduct a comprehensive review of all Implementing Regulations and Internal Policies and Procedures at both the CMA and Tadawul during the next phase in order to achieve the desired goals.
The CMA would be pleased to receive concerned and interested parties comments and observations through the following channels:
no later than Tuesday21/5/1437H (corresponding to 1/3/2016G). All comments and observations will be studied and considered for the purpose of issuing the final Rules.
The draft amended Rules can be viewed on CMA’s website via the following link:
Link
