Fsdp Quarterly Newsletter Q1 2020 · Page 5

 
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Financial Sector Development Highlights 
CMA’s Measures in Light of COVID-19 Impacts 
The Capital Market Authority has taken measures in light of the 
significant impact of coronavirus (COVID-19) and is carefully 
monitoring the occurring developments; this comes in line with 
the CMA’s regulatory and supervisory role during these 
exceptional circumstances. These measures are following the 
preventive and precautionary measures recommended by the 
competent authorities in Saudi Arabia, as part of its continuous 
development of efforts to prevent further repercussions of 
COVID-19; and also in support of the financial institutions and 
the entities subject to its supervision under the current and 
exceptional circumstances and the accompanying effects. 
Establishing a new webpage regarding the latest updates related 
to CMA's procedures during these exceptional circumstances.  
Holding listed Companies’ Assemblies Remotely and Suspension 
of Physical Attendance 
An announcement From the CMA Regarding the Deadline for 
Disclosing the Board Report and the Annual Financial 
Information that ends on 31/03/2020 
Urging Financial Market Institutions to Take Precautionary 
Measures towards Coronavirus Pandemic COVID-19 
Extending periods to provide statutory and regulatory 
requirements for the market institutions 
The Capital Market Authority Announces the Approval of 
The Securities Central Counterparties Regulations 
The CMA Board issued its Resolution to approve the Securities 
Central Counterparties Regulations ("Regulations") and amend 
the Glossary of Defined Terms Used in the Regulations and Rules 
of the Capital Market Authority, to be effective as of the date of 
their publication. This comes after the CMA has published the 
Draft Regulations on its website for public consultation for a 
period of (14) calendar days. 
The regulations aim to regulate securities clearing activities in the 
Kingdom and specify the requirements for obtaining an 
authorisation to carry out such activities, which will contribute to 
introducing new securities classes such as derivatives, and 
guaranteeing the settlement and fulfilment of obligations of 
transactions parties. This will in turn further strengthen the 
current market infrastructure and enhance its efficiency. 
Launching a New Service for Authorisation to Conduct 
Securities Business 
Pursuant to the Capital Market Authority's role in developing and 
regulating the capital market, and further to improve its services, 
the CMA has launched an electronic service for application of a 
new license to conduct Securities Business. This service aims to 
ease the submission for a securities business license in the 
Kingdom. It also enhances confidence through electronic linkage 
and integration with the relevant authorities. 
Launch of the Corporate Finance Technical Foundations 
Certificate Provided by (CISI) 
CMA would like to announce that the BoC has approved the 
launch of the Corporate Finance Technical Foundations 
Certificate provided by the Chartered Institute for Securities & 
Investment (CISI). 
This certificate covers the fundamentals of corporate finance. It 
shall be required from persons to be registered as corporate 
finance professional as of 01/01/2021. 
Listing and Trading of Government Debt Instruments in the 
Saudi Stock Exchange 
The Saudi Stock Exchange (Tadawul) has issued its resolution 
approving the listing request of the debt instruments issued by the
government of