The Capital Market Authority was established by the Capital Market Law, issued by Royal Decree No. (M/30) dated 2/6/1424 H. The CMA is a government organization with financial, legal and administrative independence. It reports directly to the Prime Minister.

The CMA functions are to regulate and develop the Saudi Arabian Capital Market. It issues the required rules and regulations for the implementation of the provisions of Capital Market Law aimed at creating an appropriate investment environment.

Duties and Authorities

The CMA enjoys authority to:

• Regulate and develop the capital market.
• Protect investors and the general public from unfair and unsound practices involving fraud, deceit, cheating, manipulation and insider trading.
• Achieve fairness, efficiency and transparency in securities transactions.
• Develop measures to reduce the risks pertaining to securities transactions.
• Develop, regulate and monitor the issuance and trading in securities.
• Regulate and monitor the activities of entities subject to the control of the CMA.
• Regulate and monitor full disclosure of information related to securities and their issuers.
• Regulate proxy and purchase requests and public share offerings.

CMA Board

The CMA is governed by a board of five full time Commissioners appointed by Royal Order.

Chairman

His Excellency Dr. Abdulrahman A. Al-Tuwaijri

Commissioners

Mr. Abdulrahman Al-Rashed, Vice-Chairman
Mr. Mohammed Al-Shumrani, Commissioner
Mr. Mazin A. AlRomaih, Commissioner
Dr. Abdulrahman M. AlBarrak, Commissioner