The further enhancement of Saudi Capital Market Authority (CMA) is under study, with its chairman Mohammed bin Abdullah Aljadaan holding talks with members of universities' faculty members and law firms to discuss their suggestions on the plan. Last April 10 Aljadaan and CMA Board members held a meeting with a number of university faculty members as part of CMA's policy to discuss and research with the experts and those working in the securities field which would positively reflect on the capital market, improve its efficiency and help in its development. The meeting discussed supporting studies and researches on developing the capital market, developing curriculums and trainings to include the financial market sector and enhance financial knowledge through all media outlets. CMA Board members listened to the audience suggestions and inputs on developing the capital market. They discussed setting up workshop to specify the priority subjects to be addressed in academic researches which can directly help the capital market. Cooperative training between CMA and the academic sector was discussed as well. The CMA Board previously held a meeting with a number of local law firms' representatives at CMA's head office in Riyadh. The meeting discussed developing of legal advice and pleadings in the field of securities and financial markets as well as enhancing the level of nationals performance in the related fields. The meeting discussed the involvement of the law firms by voicing their observations and comments on the drafts of rules and regulations, instructions or regulatory documents which are published by CMA for public consultation. It should be noted that CMA – based on the Capital Market Law – makes all its rules and regulations available for public consultation before the final draft is issued. The topic of supporting the Authority by offering related reports and studies done by the law firms was also discussed as part of CMA efforts to encourage specialized studies to enhance the market development. The two meetings come in the context of the meetings held by CMA with specialists and those working in the field of securities on a regular basis in order to get acquainted with their views and suggestions. The Board previously met with a number of representatives of accounting firms and a number of heads of boards of listed companies and CEOs of Authorized Persons (financial institutions licensed by CMA). — SG
