Riyadh– As part of the Capital Market Authority’s “CMA” strategic objectives to regulate and develop the capital market, and based on the Capital Market Law issued by Royal Decree No. (M/30) Dated 2/6/1424 H, the CMA Board issued its Resolution to approve the Regulation on the Reporting of Violations of the Capital Market Law.
This Regulation aims to regulate reporting of violations of the Capital Market Law and its implementing regulations, or violations of the regulations of the Exchange, the Depository Center, or the Clearing Center. This includes the determination of the financial rewards for those who report such violations, the controls on granting the rewards, and the procedures that contribute towards the protection of those who report violations.
The CMA Board Resolution included that the Regulation on the Reporting of Violations of the Capital Market Law shall be effective as of the date of its publication, except for Article 10 of it, which shall be effective as of 09/08/1444H corresponding to 01/03/2023.
Source: Saudi Press Agency