1. Home
  2. |Insights
  3. |Saudi Arabia to Open Stock Market to Foreign Financial Institutions – Timeline Announced

Saudi Arabia to Open Stock Market to Foreign Financial Institutions – Timeline Announced

Client Alert | 1 min read | 04.17.15

On July 22, 2014, the Saudi Arabian Capital Market Authority (CMA) announced that qualified foreign financial institutions would be permitted to buy and sell stocks listed on the Saudi stock market in accordance with rules to be adopted by the CMA. The CMA subsequently released its Draft Rules for Qualified Foreign Financial Institutions' Investment in Listed Shares (the Draft Rules) and solicited opinions and suggestions from investors and other interested parties on the Draft Rules.

Click here to continue reading a brief summary of the Draft Rules.

On April 16, 2015, the CMA announced that it has now adopted the following timeline to permit foreign financial institutions to buy and sell stocks listed on the Saudi stock market:

  1. Final Rules will be approved and published on 15/7/1436H (corresponding to May 4, 2015G);
  2. The Final Rules will be effective starting from 14/8/1436H (corresponding to June 1, 2015G); and
  3. Qualified foreign financial institutions shall be allowed to invest in listed shares starting from 28/8/1436H (corresponding to June 15, 2015G).

Insights

Client Alert | 6 min read | 09.02.25

Landmark Proposed Rule May Open American Skies to Expanded Commercial Drone Deployments

For years, the deployment of unmanned aircraft systems (UAS), or drones, in U.S. airspace has been constrained by regulations that limited how those devices operated when they strayed beyond the sightline of their human controller. Heretofore, regulations required drone operators to receive individual waivers or exemptions when using drones “beyond their visual line of sight,” known as BVLOS. Industry has felt that these regulations have hampered widespread UAS usage in areas such as package delivery, surveying, and farming, among others....

View All Insights