The Board of the Capital Market Authority,
based on the Capital Market Law issued by Royal Decree D/30 dated 2 Jumada Al-Thani 1424 [1 August 2003],
hereby decides
(a) The Financial Sufficiency Rules are hereby amended in accordance with the form attached, and it comes into force as of 10 Ramadan 1444 corresponding to 1 April 2023.
(b) Subject to the provisions of paragraph (c) of this decision, the Financial Sufficiency Rules issued by Council Decision 1-40-2012 dated 17 Safar 1434 corresponding to 30 December 2012 continue to apply until the date of entry into force of the Financial Sufficiency Rules amended in accordance with paragraph (a) of this decision.
(c) Exempting capital market institutions from applying the provisions of articles 66, 68, and 69, and requiring the preparation of a report by the external audit office on the validity of calculating the minimum capital requirements stipulated in 74(b) of the Financial Sufficiency Rules issued by board Decision 1-40-2012 dated 17 Safar 1434 corresponding to 30 December 2012.
(d) The content of paragraphs (a), (b), and (c) of this decision must be announced on the electronic websites of the authority and the Saudi Exchange Company.
The Board of the Capital Market Authority,
Member of the Board of the Capital Market Authority
Khalid bin Mohammed Al-Solai
Member of the Board of the Capital Market Authority
Khaled bin Abdulaziz Al-Homoud
Member of the Board of the Capital Market Authority
Ahmed bin Rajeh Al Rajeh
Vice Chairman of the Board of the Capital Market Authority
Youssef bin Hamad Al-Bilihid
Issued on: 4/6/1444
Corresponding to: 28/12/2022
Published in Umm Al-Qura 4973 issued on 10 March 2023.