Saudi Arabia to Open Stock Market to Foreign Financial Institutions
Client Alert | 1 min read | 07.23.14
On July 22, 2014, the Saudi Arabian Capital Market Authority (CMA) announced that foreign financial institutions will be permitted to buy and sell stocks listed on the Saudi stock market in accordance with applicable CMA rules. Next month, the CMA plans to release draft proposed rules governing the investment by foreign financial institutions in eligible listed stocks and then solicit opinions and suggestions from investors and other interested parties on the CMA's proposed rules. Opinions and proposals on the CMA's draft proposed rules will be welcome for a period of 90 days. The CMA indicated that it will review the opinions and proposals concerning the draft proposed rules by the end of 2014, check the readiness of the Saudi Stock Exchange (Tadawul) to implement the finalized rules, and coordinate with the relevant Saudi government authorities prior to adopting the finalized rules. The CMA plans to open the Saudi stock market to investment by foreign financial institutions in the first half of 2015.
Insights
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On April 23, 2025, President Trump signed an executive order, Restoring Equality of Opportunity and Meritocracy, declaring it the policy of the United States “to eliminate the use of disparate-impact liability in all contexts to the maximum degree possible to avoid violating the constitution, Federal civil rights laws, and basic American ideals.” The order reasons that “disparate impact liability all but requires individuals and businesses to consider race and engage in racial balancing to avoid potentially crippling legal liability.”
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