Approved by the International Organization of Securities Commissions (memoranda) to join the Saudi Capital Market Authority to as a full member within the members of ordinary's 114, according to Prime the Board of the Saudi market, its chief executive Abdul Rahman Al-Tuwaijri, who considered that «the culmination of the achievements of the Commission, in recognition of reached the capacity of regulatory and supervisory and control on the Saudi financial market ».
It was announced that the Board of the Commission issued, in his quest to develop laws and
regulations in support of the legislative structure of the financial market, a decision to amend the definition of an independent member in paragraph (b) of Article II of the Rules of Corporate Governance, specifying in detail what is contrary to the independence of a member of the Governing Council. The decision, as well as the mandatory Article 15 of the Rules of the relevant corporate governance committee nominations and awards.The Tuwaijri in word topped the annual report of the Capital Market Authority for the year 2010, the RTA is keen to continue their regulatory efforts, as approved by its Council on the mechanism of action of ETFs (ETFs) are included to allow foreign investors from non-residents trading units of ETFs traded on the Stock Market (Tadawul) and included the first fund of the indicators in circulation and its units began trading in 2010. Also issued a resolution on the organization of organizational investments of listed companies in the financial market and its affiliates in the securities listed.
He added: «a continuation of the efforts of the regulatory body and development in the securities issues, carried out 107 operations in 2010, an increase of 11.5 percent for the year 2009, and was including the approval of the 7 companies for public subscription, and 93 of the private placement, and a 7 Operations other to regulate the issuance of securities, namely: a tool put one religion, and rights issue for one company, and five bonus shares, and reduction in the capital of one company ». He pointed out that «the cost of the organization issuing securities in 2010 amounted to 30.3 billion riyals (about $ 8 billion), of which 3.8 billion rials to the public». He continued: «The number of companies listed on the Stock Market (Tadawul) rose at the end of 2010 to 146 companies. It also agreed to put 26 units of investment funds to become the number at the end of last year's 267 fund ».
He stressed that the Commission Tuwaijri «strengthened its efforts to ensure the commitment of companies listed on the disclosure controls and transparency, and 2010 saw a marked improvement in this aspect was reflected by the rise ads listed companies to 2554, by up to 24.5 percent compared to 2009.
As well as the number of companies that responded to the financial statements reservations after review by 12.2 percent compared to 2009, indicating the success of control methods applied by the body to raise the level of disclosure and transparency in the financial market », pointing out that« the Commission authorized in 2010 to four institutions and companies new in the exercise of the securities, and issued decisions to modify the activities of 13 people were licensed. Despite the low numbers of persons authorized to 97 in 2010 from 110 in 2009, but the paid capital rose from 13.6 billion riyals in 2009 to 14.4 billion riyals in 2010 ».
التسميات
Orbits