The Board of the Saudi Capital Market Authority (CMA) issued a resolution to recompose the Advisory Committee for its third term to comprise of twelve part-time members from market participants, experts, specialists and experienced academicians. The Committee's composition took into consideration a more expanded representation of market participants. The members are as follows: Dr. Ahmed Abdulkarim Al-Khulaifi, Dr. Tariq Abdullah Al-Nu'aim, Fawaz Mohammed Al-Fawaz, Ziyad Mohammed Al-Shiha, Hassan Shakib Al-Jabri, Fahad Abdullah Al-Kassim, Mr. Khalid Abdullah Al-Hussan, Salman Mut'eb Al-Sudairy, Khalil Ibrahim Al-Sudais, Ziyad Mohammed Al-Tunisi, Fawaz Hamad Al-Fawaz, and Dr. Abdullah Abdulrahman Al-Shuwe'ir. Previously, the CMA Board issued a resolution 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. The CMA Board has extended its gratitude to the Committee members at the previous term for their distinguished efforts and contributions, as well as their transparent and unbiased views and recommendations on all areas that would develop the capital market and protect investors. The Board has also appreciated the role played by the Committee as an advisory body making recommendations and suggestions on any issues that might be studied at the request of the CMA Board, discussing topics and suggestion brought by market participants and seeking their feedback about any proposed changes or new policies the CMA wishes to adopt as well as the issues deemed important by the Committee to be raised. During the past term, the Advisory Committee looked into several issues and provided opinions and recommendations thereof; the most important of which were: proposals to develop margin lending practices, enhancing market maker role, regulatory obstacles in mergers and acquisitions among listed companies, enhancing listed companies' transparency and disclosure, investment accounts' instructions project, CMA's role in increasing qualified human resources and raising their professional and knowledge levels. Moreover, the Committee studied recommendations to develop new financial instruments in the Saudi Stock Exchange. The Committee also made a number of suggestions to develop the capital market to be the leading market in the region. — SG
