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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).

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Client Alert | 3 min read | 05.29.26

Rough Seas for International Cartels: DOJ Indicts Four of the Largest Container Manufacturers and Executives for Price-Fixing

Last week, the U.S. Department of Justice (DOJ) Antitrust Division (the Division) revealed criminal charges against China International Marine Containers (Group) Co., Ltd. (CIMC) and several other major Chinese companies and executives involved in the manufacture and sale of standard dry shipping containers, which are used for shipping dry, unrefrigerated cargo on ships around the world. One of the executives was arrested at an airport in France and is awaiting extradition to the U.S. The indictment charged these defendants with violating Section 1 of the Sherman Act by conspiring to restrict output and fix prices of standard dry containers, including in the U.S. market, from 2019 to 2024....

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