Union of Arab Securities Authorities.

Other

  

Active Members

The Board of the Capital Market Authority (CMA) issued a resolution to recompose the Advisory Committee for its fourth term to comprise 12 part-time members from market participants, experts, specialists and experienced college professors. The Committee's composition took into consideration a more expanded representation of market participants.
Previously, the CMA Board issued a resolution on 2/11/1434H (8/9/2013) to approve the CMA’s Advisory Committee Regulations pursuant to the Capital Market Law (CML). This came in the context of enabling effective communication between the CMA and all different market participants, and creating a regulated mechanism for such interaction in order to support the CMA in fulfilling its functions and achieving its goals.
During the past term, the Advisory Committee looked into several issues and provided advice and recommendations thereof; the most important of which were: Sukuk and debt instruments market in KSA, corporate conversion from Saudi Organization for Certified Public Accountants-SOCPA’s accounting standards into International Financial Reporting Standards (IFRS), enabling the role of independent directors, convergence of interest in portfolio management between investors and investment managers, sector and market information disclosures in annual reports, best practices in auditing offices which audit listed companies, and creating a market for energy trading.
The Committee also discussed a wide spectrum of other issues such as: Special Purpose Entities rules, draft articles of association of a Special Purpose entities, CMA’s Program to Achieve KSA Vision 2030, Listing Rules in the second market, and quarterly financial statements for the fourth quarter.

Member Login

User Name
Password  
Remember me on this device. Login
Forgot Password?