The CMA Board has issued its Resolution on publishing the draft regulation of Class Action Suits (the Draft) on the CMA website via the below mentioned link to enable the concerned and interested parties to provide their comments and observations.

 

The Draft, to be incorporated in the Resolution of Securities Disputes Proceedings Regulations once approved, aims to develop the litigation mechanisms and procedures to meet the best international practices in order to promote the attractiveness of the Saudi capital market and minimizes the risks involved in investing therein; in addition to its role in reducing the time period needed to decide on investors compensation cases. This would ease the committees mission and focus investors efforts.