The Capital Market Authority (CMA) and the Saudi Stock Exchange (Tadawul) are encouraging all stakeholders and investors in the Saudi capital market to participate in reflecting their views regarding the draft rules for CMA & Tadawul, as part of the Transition & Activation of Responsibilities Project (TAR). The draft rules would be published on CMA and Tadawul websites.
TAR Project aims at activating Tadawul’s responsibility for supervising, and regulating certain aspects in accordance with the Capital Market Law (CML). This includes regulating various activities such as listing and continuous disclosure of listed companies and market participants. This project comes in line with the National Agenda and Kingdom Vision 2030.
Based on the outcomes of TAR Project, CMA will continue to be responsible for regulating offers of securities and continuous obligations. On the other hand, Tadawul will be responsible for regulating listing of securities and the details regarding timing, format and mechanisms of disclosures.
In view of that, CMA has drafted the following rules:
- Rules on the Offer of Securities and Continuing Obligations;
- Glossary of Additional Defined Terms in the Rules and Regulations of the Capital Market Authority (amended).
Tadawul has drafted the following rules:
- Listing Rules;
- Glossary of Additional Defined Terms in the Exchange Rules (amended).
To view the draft of the new and amended rules, please visit the following links:
Accordingly, your views and comments shall be taken into consideration before finalizing the above mentioned rules. Should you have any comments or suggestions related to drafting rules for TAR Project, kindly send them no later than Tuesday 25th of July 2017 through the following:
