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:
- Final Rules will be approved and published on 15/7/1436H (corresponding to May 4, 2015G);
- The Final Rules will be effective starting from 14/8/1436H (corresponding to June 1, 2015G); and
- 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 | 04.23.25
Auto Dealers: Buckle-Up Enhanced State-Level Enforcement Ahead
The Fifth Circuit vacated the FTC’s Combatting Auto Retail Scams (CARS) Rule in January of this year, finding that the FTC failed to follow the correct administrative procedures when it promulgated the regulation.
Client Alert | 2 min read | 04.23.25
Client Alert | 11 min read | 04.23.25
Client Alert | 4 min read | 04.23.25
