Mubasher TV
Contact Us Advertising   العربية

Saudi CMA amends corporate governance regulations

Saudi CMA amends corporate governance regulations
The newly approved amendments will be effective upon their publication date

Riyadh – Mubasher: Saudi Arabia’s Capital Market Authority (CMA) announced amending corporate governance regulations, the regulatory rules, and procedures issued pursuant to the companies’ law relating to listed joint stock companies.

The CMA also adjusted the guidance note to the regulatory rules and procedures issued pursuant to the companies’ law relating to listed joint stock companies, the market regulator said in a recent statement.

The newly approved amendments will be effective upon their publication date, the CMA added.   

The authority noted that the new amendments come in line with the correction made to the Companies Law issued by the  Royal Decree Number (M/79) issued on 25 July 2018.

“These amendments granted the competent authorities to establish rules of authorisation for businesses or contracts that are made for the company, which a board member has direct or indirect interest in, and rules of authorisation over the engagement of a Board Member in any business that may compete with the company or with one of its activity,” the statement said.