As part of the Capital Market Authority's ("CMA") continuous efforts to develop the capital market, regulate the issuance of securities and monitor securities and dealing in securities, and regulate and monitor the works and activities of parties subject to the control and supervision of the Authority. and based on the Capital Market Law 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 Rules for Special Purposes Entities ("the Rules") and the draft Special Purposes Entity by-laws on CMA’s website (indicated below) to enable concerned and interested parties to provide their comments and observations for a period of (60) calendar days.
The Rules aim to regulate the establishment and licensing of the special purpose entity; and to define the related monitoring and supervisory rules.
The CMA would be pleased to receive concerned and interested parties comments and observations through the following channels:
- Email (Laws.Regulations@cma.org.sa);
- Fax number (+966114906460); or
- Mail address (P.O. Box 87171 Riyadh 11642, CMA Deputy for Legal Affairs and Enforcement – Laws and Regulations Department).
no later than Thursday 23/10/1437H (corresponding to 28/7/2016G). All comments and observations will be studied and considered for the purpose of issuing the final Rules and by-laws.
The Rules and by-laws can be viewed on CMA’s website via the following link:
