Regulates securities markets, disclosure requirements, and investor protection.
The Capital Market Authority regulates and supervises securities and protects investors.
The Authority may impose administrative sanctions and fines without prejudice to criminal liability.
Trading in securities based on insider information not available to the public is prohibited.
Any action intended to artificially influence securities prices is prohibited.
Listed companies must disclose material information as soon as it becomes available.
Investment fund managers must submit periodic reports to investors.
Violations carry up to five years imprisonment and a five million riyal fine, or either penalty.
The Authority may temporarily suspend trading in specific securities to protect investors.
The prospectus is a mandatory document for any public offering of securities.
Those with knowledge of material information are prohibited from trading or disclosing it to others.