CMA Regulations

What are CMA Regulations?

CMA Regulations are compliance and governance standards issued by the Capital Market Authority (CMA) of Saudi Arabia. They apply to listed companies, securities firms, investment funds, and financial intermediaries operating in the Kingdom.

These regulations govern areas such as corporate governance, disclosure requirements, anti-money laundering (AML), prudential supervision, securities issuance, and market conduct. The framework is designed to protect investors, strengthen financial markets, and align Saudi Arabia with global best practices.

Why CMA Regulations Matter

CMA Regulations are essential because they:

  • Ensure fair and transparent capital markets

  • Protect investors through strict disclosure and reporting obligations

  • Promote corporate governance and accountability of boards and management

  • Support compliance with AML/CFT standards

  • Encourage market development in line with Saudi Vision 2030 goals

Key Components of CMA Regulations

  1. Corporate Governance Regulations – Board structures, committees, and shareholder rights

  2. Market Conduct Regulations – Insider trading, disclosure, and fair dealing standards

  3. Authorized Persons Regulations – Rules for licensing and supervising financial intermediaries

  4. Investment Funds Regulations – Standards for fund formation, management, and disclosure

  5. AML & CFT Obligations – Compliance with anti-money laundering and counter-terrorist financing requirements

  6. Disclosure & Transparency Rules – Financial reporting, periodic disclosures, and material event reporting

Example in Practice

A publicly listed company in Saudi Arabia must comply with CMA Regulations by:

  • Publishing audited quarterly and annual financial statements

  • Disclosing material changes (such as mergers or acquisitions) to investors

  • Maintaining independent board committees for audit and risk oversight

  • Implementing AML compliance programs for financial transactions

CMA Regulations vs. SAMA Regulations

  • CMA Regulations – Govern capital markets, listed firms, and investment activities.

  • SAMA Regulations – Oversee banking, insurance, and financial institutions.

Both are critical pillars of Saudi Arabia’s financial regulatory ecosystem.

How VComply Can Help

VComply simplifies compliance with CMA Regulations by:

  • Centralizing governance policies and disclosure obligations

  • Automating compliance monitoring for corporate governance standards

  • Tracking AML and financial reporting requirements in real time

  • Mapping CMA rules to organizational controls and risk frameworks

  • Providing dashboards and audit trails for board and regulator oversight

With VComply, listed firms and investment entities in Saudi Arabia can achieve seamless compliance, strengthen governance, and build investor confidence.