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Capital Market Authority calls for public consultation on amended draft of Rules for Qualified Foreign Financial Institutions Investment in Listed Securities
The Capital Market Authority issued today the following statement: As part of the Capital Market Authority's (CMA) continuous efforts to develop the capital market and protect investors, and based on the Capital Market Law issued by the Royal Decree Number (M/30) Dated 2/6/1424H, and based on the Rules for Qualified Foreign Financial Institutions Investment in Listed Shares issued by the Board resolution Number (1-42-2015) Dated 15/7/1436H corresponding to 4/5/2015G, the CMA has prepared an amended draft of the Rules for Qualified Foreign Financial Institutions Investment in Listed Securities. The draft amended Rules is a reflection of the international best practice as well as the CMA's experience in the implementation of the mentioned Rules. With reference to the announcement issued by the Authority dated 26/7/1436H corresponding to 05/03/2016G, regarding the approval of amendments to the Registration Requirements for Qualified Foreign Financial Institutions, the CMA Board accordingly issued its resolution, which includes publishing the amended draft of the Rules for Qualified Foreign Financial Institutions Investment in Listed Securities on the CMA's website to enable concerned and interested parties to provide their comments and observations for a period of (30) calendar days. The CMA would be pleased to receive such comments and observations through the following channels: - Email ([email protected]); - Fax number (+966114906460); or - Mail address (P.O. Box 87171 Riyadh 11642, CMA Deputy for Legal Affairs and Enforcement - Laws and Regulations Department).
