Tag: Capital Market Authority

Arabic

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 [31 July 2003],

hereby decides

(a) The amendment of the Instructions for Investment Accounts is hereby approved in accordance with the form attached, and comes into force from the date of its publication.

(b) The amendment to the Rules Regulating Foreign Investment in Securities is hereby approved in the form attached, and comes into force from the date of its publication.

(c) Article 39(c) of the Capital Market Institutions Regulation issued by board Decision 1-83-2005 dated 21 Jumada Al-Awwal 1426, corresponding to 28 June 2005, amended by Decision 4-122-2024 dated 13 Rabi Al-Thani 1446, corresponding to 16 October 2024, is hereby amended to read as follows:

A capital market institution shall request its clients to update the details required under this regulation upon the occurrence of any change to it, the expiry of its validity, or at the end of each interval specified by the capital market institution in accordance with the controls and policies it adopts on the basis of the level of risks associated with the client, whichever is earlier, provided that the capital market institution conducts a periodic review to study the extent of the need to update the client details at least once every five years, and the capital market institution shall establish permanent procedures and policies in order to achieve this.

It enters into force from the date of its publication.

(d) The content of paragraphs (a), (b), and (c) of this decision must be announced on the websites of the authority and the Saudi Tadawul Company.

Chairman of the Board of the Capital Market Authority
Mohammed bin Abdullah Al-Quweiz

Issued on: 28 Dhu Al-Qa’dah 1446
Corresponding to: 26 May 2025

Published in Umm Al-Qura 5101 issued on 15 August 2025.

Arabic

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 [31 July 2003],

hereby decides

(a) A new paragraph with the order (d) is hereby added to article 15 of the Rules for Offering Securities and Continuous Obligations issued by the board Decision 3-123-2017 dated 9 Rabi Al-Thani 1439 [27 December 2017], amended by Decision 3-114-2024 dated 4 Rabi Al-Thani 1446 [7 October 2024], with the following text:

(d) The registration and public offering of Saudi depositary receipts must be subject to the provisions governing the registration and offering of shares stipulated in this part (where applicable). For the purposes of applying the law and its executive regulations, the foreign company whose shares correspond to the Saudi depository receipts is the issuer of those receipts.

It enters into force from the date of its publication.

(b) The definition of the term “Saudi depository receipts” is hereby added to the List of Terms Used in the Regulations and Rules of the Capital Market Authority issued by board Decision 4-11-2004 dated 20 Sha’ban 1425 [4 October 2004], amended by its Decision 3-6-2024 dated 5 Rajab 1445 [17 January 2024], with the following text:

Securities issued for the purpose of listing on the Saudi Stock Exchange in exchange for shares issued in a foreign country and listed on its market or whose issuer has made the necessary arrangements for its listing in it.

It enters into force on the date of its publication.

(c) The content of paragraph (a) and paragraph (b) of this decision must be announced on the websites of the authority and the Saudi Tadawul Company.

Vice Chairman of the Board of the Capital Market Authority
Youssef bin Hamad Al-Blihid

Issued on: 21 Dhu Al-Qa’dah 1446
Corresponding to: 19 May 2025

Published in Umm Al-Qura 5101 issued on 15 August 2025.

Arabic

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) Article 77 of the Financial Market Institutions Regulation isued by Council Decision 1-83-2005 dated 21 Jumada Al-Awwal 1426, corresponding to 28 June 2005, amended by Decision 1-101-2023 dated 8 Rabi Al-Thani 1445, corresponding to 23 October 2023 is hereby amended in accordance with the following text:

Without prejudice to the provisions of this chapter, the Capital Market Authority may:

1. Deposit the money of the client in an account that provides returns at a local or foreign bank, and obtain those returns or part of it, provided that the prior written approval of the client is obtained for that, and the conditions stipulated in the Client Money Rules are met.

2. Provide a service to the client through which his money deposited in his investment account is invested and a return is provided on it, provided that the following is met:

(a) Compliance with the requirements of understanding risks and suitability, in accordance with the provisions of these regulations.

(b) Obtain the prior written approval of the client to receive that service and the terms of its provision, including the period within which the client can—upon his request—recover his invested funds.

(c) The investment must be within the Kingdom and in short-term and low-risk products.

It must be effective from the date of its publication.

(b) Announce the content of paragraph (a) of this decision on the websites of the authority and the Saudi Stock Exchange.

Chairman of the Board of the Capital Market Authority
 Mohammed bin Abdullah Al-Quweiz

Issued on: 16 Jumada Al-Awwal 1446
Corresponding to: 18 November 2024

Published in Umm Al-Qura 5051 issued on 11 October 2024.

Arabic Auto Translate

Issued on: 5/7/1445
Corresponding to: 17/1/2024

Published in Umm Al-Qura 5026 issued on 29 March 2024.

Arabic Auto Translate

Issued on: 8/4/1445
Corresponding to: 23/10/2023

Published in Umm Al-Qura 5027 issued on 5 April 2024.

Arabic Auto Translate

Issued on: 5/9/1444
Corresponding to: 27/3/2023

Published in Umm Al-Qura 4984 issued on 2 June 2023.

Arabic

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.

Arabic

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

1. The Amended Instructions for Book Building Process and Allocation of Stock in Initial Public Offerings is hereby adopted in accordance with the form attached, and it comes into force as of 8 Jumada Al-Thani 1444, corresponding to 1 January 2023.

2. The Amended Instructions for Book Building Process and Allocation of Stock in Initial Public Offerings issued by board of the authority decision 2-94-2016 dated 15 Shawwal 1437 corresponding to 20 July 2016, as amended by board of the authority decision 3-102-2019 dated 18 January 1441 corresponding to 17 September 2019, continue to apply until the date of entry into force of the Amended Instructions for Book Building Process and Allocation of Stock in Initial Public Offerings in accordance with paragraph (1) of this decision.

3. The content of paragraphs (a) and paragraph (b) of this decision must be announced on the websites of the authority and the Saudi Tadawul 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
Khalid bin Abdulaziz Al-Humoud,

Member of the Board of the Capital Market Authority
Ahmed bin Rajeh Al-Rajeh,

Vice Chairman of the Board of the Capital Market Authority
Yusuf bin Hamad Al-Balihid,

Chairman of the Board of the Capital Market Authority
Mohammed bin Abdullah Al-Kuwaiz

Issued on: 2/3/1444
Corresponding to: 28/9/2022

Published in Umm Al-Qura 4971 issued on 24 February 2023.

Arabic Auto Translate

Issued on: 23/11/1443
Corresponding to: 22/6/2022

Published in Umm Al-Qura 4971 issued on 24 February 2023.

Arabic

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 Sharia Governance Instructions in Capital Market Establishments is hereby adopted in accordance with the form attached, and comes into force from the date of its publication.

(b) As an exception to the provisions of paragraph (a) of this decision, article 3(2), 3(7) and 8(6) of the Sharia Governance Instructions in Capital Market Establishments apply as of 13 Dhu Al-Hijjah 1444 corresponding to 1 July 2023.

(c) The content of paragraphs (a) and paragraph (b) of this decision must be announced on the websites of the authority and the Saudi Tadawul Electronics Company.

The Board of the Capital Market Authority,
 Member of the Board of the Capital Market Authority
 Khalid bin Mohammed Al-Sulaie
 Member of the Board of the Capital Market Authority
 Khalid bin Abdulaziz Al-Humoud,
Member of the Board of the Capital Market Authority
 Ahmed bin Rajeh Al-Rajeh,
 Vice Chairman of the Board of the Capital Market Authority
Yusuf bin Hamad Al-Balihid,
 Chairman of the Board of the Capital Market
Mohammed bin Abdullah Al-Kuwaiz

Issued on: 23/11/1443
Corresponding to: 22/6/2022

Published in Umm Al-Qura 4971 issued on 24 February 2023.