Mr. Mohammed Aljadaan, Board Chairman of the Capital Market Authority (CMA), stated that the Authority is working tirelessly on implementing the CMA's strategic plan which was adopted last year. The plan was presented to the Council of Economic and Development Affairs for their remarks and recommendations. The Council has graciously recommended approval of the plan and expressed a number of observations and notes on the plan. Thereafter, a Royal Approval was issued approving the plan.
In 2015, a new strategic objective related to deepening the capital market was added to the strategic plan. In addition, other strategic objectives were included; these objectives include raising governance and transparency standards as well as to increase the level of communication with capital market investors.
The CMA Chairman stated in the introduction of the 2015 Annual Report that the CMA is on track implementing 54 initiatives of the approved strategic plan. Those initiatives included 342 activities with the CMA achieving (91%) completion rate of these activities during the year. In 2016, the CMA will work to implement other elements of its strategic plan including initiatives to deepen the capital market by expanding the investor base, promote investment literacy and higher level of investor communication. Other areas the strategy would concentrate on in 2016 is improving the CMA's internal efficiency and effectiveness, strengthening internal governance and risk management, increase cooperation with other related entities, and managing the transition of the authority into the new governance principles. The CMA plans to achieve these Goals through the implementation of 51 ongoing initiatives as well as through 13 new initiatives to be implemented in 2016.
To conclude, the Chairman expressed his appreciations and gratitude towards the country's leadership for their continues support for the development of the financial market, it's growth and stability. He also thanked all those who contributed to the success of the Authority in its regulatory, supervisory and development journey. Including the CMA Advisory Committee, the Saudi Stock Exchange (Tadawul), listed companies, Authorized Persons, investors and the CMA Board members and staff.
The 2015 Annual Report data include the public offering of four companies with a total of 4.2 Billion Riyals worth of shares while the offering of all securities reached 34.2 Billion Riyals.. The investment funds sector grew by 11.2% over the preceding year, reaching SR 180.3 billion in total investment funds assets.
As part of its efforts to raise transparency and disclosure, the CMA highlighted in its 2015 Annual Report the total penalties issued by it and the CRSD and ACRSD against the violators of the CML and its Implementing Regulations during the year. Moreover, the CMA published the names of qualified foreign investors and their approved clients for investment in the local stock exchange, namely:
No. | QFI | QFI Clients |
|---|
1 | HSBC Bank Plc | _ |
2 | Ashmore Investment Management Limited | _ |
3 | Silchester International Investors LLP | - CAPE ANN GLOBAL DEVELOPING MARKETS FUND.
|
4 | Citigroup Global Markets Limited | _ |
5 | Ashmore Equities Investment Management US LLC | - Ashmore SICAV Middle East Equity Fund.
- Ashmore Emerging Markets Frontier Equity Fund.
- Ashmore SICAV Emerging Markets Global Small Cap Equity Fund.
- Ashmore SICAV Emerging Markets Frontier Equity Fund.
|
6 | Black Rock Fund Advisors | - iShares MSCI Saudi Arabia Capped ETF.
|
7 | Black Rock Advisors UK Limited | - iShares MSCI Saudi Arabia Capped IMI UCITS ETF.
|
8 | UNLU MENKUL DEGERLER AS | _ |
9 | La Francaise Asset Management | - Fonds Equipe de France.
|
To view CMA's 2015 Annual Report, kindly [click here].
