1. Home
  2. |Insights
  3. |Saudi Arabia to Open Stock Market to Foreign Financial Institutions – Timeline Announced

Saudi Arabia to Open Stock Market to Foreign Financial Institutions – Timeline Announced

Client Alert | 1 min read | 04.17.15

On July 22, 2014, the Saudi Arabian Capital Market Authority (CMA) announced that qualified foreign financial institutions would be permitted to buy and sell stocks listed on the Saudi stock market in accordance with rules to be adopted by the CMA. The CMA subsequently released its Draft Rules for Qualified Foreign Financial Institutions' Investment in Listed Shares (the Draft Rules) and solicited opinions and suggestions from investors and other interested parties on the Draft Rules.

Click here to continue reading a brief summary of the Draft Rules.

On April 16, 2015, the CMA announced that it has now adopted the following timeline to permit foreign financial institutions to buy and sell stocks listed on the Saudi stock market:

  1. Final Rules will be approved and published on 15/7/1436H (corresponding to May 4, 2015G);
  2. The Final Rules will be effective starting from 14/8/1436H (corresponding to June 1, 2015G); and
  3. Qualified foreign financial institutions shall be allowed to invest in listed shares starting from 28/8/1436H (corresponding to June 15, 2015G).

Insights

Client Alert | 3 min read | 07.10.26

Federal Circuit Clarifies Application of Blue & Gold: Proposal Submission Deadline, Not Award, is the Operative Time for Filing

In Utech, Inc. v. United States, No. 24-1586 (Fed. Cir. June 24, 2026), the U.S. Court of Appeals for the Federal Circuit clarified that in most cases, a pre-award protest must be filed before the proposal submission deadline to avoid the Blue & Gold waiver rule.  This decision, while nonprecedential, is in line with U.S. Government Accountability Office (GAO) precedent, which has long held that pre-award protests must be filed before the proposal submission deadline....

View All Insights