The Capital Market Authority (“CMA") and the Saudi Bar Association (“SBA") have launched the Initiative of Accreditation Standards for Lawyers Specialized in Securities Cases (“Initiative") which aims to improve the level of professional specialization for lawyers in the securities and relevant activities, and raise the efficiency of pleading before Committees for the Resolution of Securities Disputes in a way best services the development of the Saudi capital market and its participants.
The initiative comes as part of the Memorandum of Understanding (MOU) entered by and between the CMA and SBA to support the participation of the directory for advocacy and legal advice in securities and relevant activities and raise the level of knowledge and professional competence of lawyers and legal advisors in securities.
The Initiative comprises a number of standards required to classify the lawyers specialized in securities cases filed before Committees for the Resolution of Securities Disputes and providing legal advices and services in the securities and relevant activities. Among those standards are having a valid license for practicing the bar, an experience of five years, at least, in practicing legal business, a SAB valid membership and a legal facility valid register (for legal facilities). Further, having the General Securities Qualification Examination (CME-1) or passing the specialized training program in (qualifying for legal practice in securities) to be launched by the SBA near soon.
It is worth noting that the names of lawyers, specialized in securities cases, and who meet the initiative's accreditation standards, have been enclosed and posted in the website of SBA's directory for advocacy and legal advice under category (securities specialized lawyers) (Here) to be continuously updated to enclose more names of candidate lawyers to provide a channel facilitating matters on seekers of securities legal services and introducing them to specialized lawyers in securities cases.
The Capital Market Authority and the Saudi Bar Association, with full gratitude, would invite candidate lawyers to register through the designated form via the SBA's website (Here).