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Saudi Arabia: CMA Restructures its Advisory Committee

Saudi Arabia: CMA Restructures its Advisory Committee

Monday, 25 March, 2019 - 09:00
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Riyadh - Asharq Al-Awsat
The Board of the Capital Market Authority (CMA) has agreed to appoint new members to its Advisory Committee in its sixth term.

The Board indicated that the Committee now comprises 12 part-time members from market participants, experts, specialists and experienced college professors. The new decision took into consideration a wider representation of market participants.

The Committee now includes: Partner at Ernst and Young Rashid al-Rashoud, CEO of Samba Financial Group Rania Nashar, Senior Advisor to CEO of Tadawul Roland Bellegarde, Managing Director and CEO of Jadwa Investment Company Tariq al-Sudairy, Deputy of the Agency for Internal Trade at the Ministry of Commerce and Industry, Abdulsalam al-Manei, Associate Professor of Economics participant at Dar al-Uloom University Abdulaziz al-Gaeed, Managing Partner at Watar Partners Abdulwahab al-Betairi, Founder and Managing Director of DAS Partners Adnan Soufi, Head of Compliance, at NCB Capital Ali al-Marzouki, Governor of General Authority for Awqaf Emad al-Kharashi, Managing Partner of Mohammed al-Dhabaan and Partners in association with Eversheds Sutherland Fahad al-Dehais, Lawyer and Legal Consultant and Founder of al-Mulhim Lawyers and Consultants Mulhim al-Mulhim.

The Board has also appreciated the role played by the Committee as an advisory body that provides recommendations and suggestions on any issue that might need to be explored at the request of the CMA’s Board, deliberating topics and suggestions highlighted by market participants.

The Board said it seeks the feedback of the members on any changes or new policies which it wishes to adopt, as well as any essential issues raised by the Committee.

During its fifth term, the Advisory Committee deliberated on several important issues and provided valuable views and recommendations on various matters including the strategic plan of the Authority and enhancing the role of investor relations function in listed companies.

It also issued recommendations on the development of the GCC market integration, an investment fund regulation, public opinion survey mechanism and others. In addition, the Committee proposed amendments to the financial market system.

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