Pursuant to the Council of Ministers’ Resolution No. (388) dated 24/9/1435H (corresponding to 21/7/2014G) which permitted the Capital Market Authority (CMA) to allow Qualified Foreign Financial Institutions to trade listed shares -according to the time it deems appropriate and pursuant to the regulations issued by it- and based on the Capital Market Law issued by Royal Decree Number (M/30) Dated 2/6/1424 H, the CMA has prepared the draft Rules for Qualified Foreign Financial Institutions Investment in Listed Shares that sets out the procedures, requirements and conditions for registering the qualified foreign investors with the CMA to trade listed shares, and to specify the authorised persons’ obligations in their dealings with the qualified foreign investors.
The CMA Board has issued its resolution Dated 25/10/1435H (corresponding to 21/8/2014G), which includes publishing the draft Rules for Qualified Foreign Financial Institutions Investment In Listed Shares on the CMA’s website (indicated below) to enable concerned and interested parties to provide their comments and observations. The CMA would be pleased to receive such comments and observations at the following email (Rules.Regulations@cma.org.sa), Fax number (+966114906460) or mail address (P.O. Box 87171 Riyadh 11642, Legal Affairs Division) no later than Thursday 27/01/1436H (corresponding to 20/11/2014G). All comments and observations will be considered for the purpose of issuing the final rules.
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