Announcement regarding obligating the issuers of listed securities in the Main market to make any notification to the Exchange and disclosure to the public in both Arabic and English languages
Thursday, November 05, 2020 at 4:11 PM
Thu Nov 5, 2020 16:11
The Capital Market Authority’s (CMA) Board issued its resolution on 09/03/1442H corresponding to 26/10/2020G, obligating the issuers of listed securities in the Main market - As per Listing Rules - to make any notification to the Exchange and disclosure to the public in both Arabic and English languages, starting from 01/01/2021G, with an exception to the terms and conditions of Investment traded funds; in which it is mandatory to disclose in English starting from 01/04/2021G.
This decision comes from CMA continuous endeavors to regulate and monitor full disclosure of information relating to securities and issuers, and to enhance transparency, facilitating the flow of information to the investors and to the public, and to limit risk in security transactions. In addition, the CMA evaluates the disclosure requirements and makes the necessary amendments to increase the quality and comprehensiveness of disclosure in the financial market as well as monitoring the level of compliance.
Furthermore, allowing information to be in both Arabic and English languages bring fairness to the local and foreign investors, and contributes to raise the level of research, studies, and evaluations conducted on the Saudi financial market; this provides more accurate information and fairness assessments to market participants which help them make their investment decisions based on information from reliable sources in a timely manner.