CMA urges listed securities issuers to disclose financial impacts without delay

The Capital Market Authority (CMA) urged issuers of listed securities to continuously disclose financial impacts that arise from material events on their financial results without delay, in line with the relevant laws and regulations.

Abdullah Binghannam, CMA Deputy, Listed Companies and Investment Products, said that issuers’ disclosures about the financial impacts without delay will enhance investor confidence in the capital market, allow them to exercise their rights and access the necessary financial data that will help them take the right investment decisions.

The coronavirus might have impacted the financial results of listed companies, Binghannam said, adding that the market players should disclose any information about the size and scope of this impact immediately rather than waiting for the quarterly statements.

Moreover, the market regulator has deployed a form for securities issuers to help them disclose as much information as possible to the public, including the events, reasons, impacted operations, the measures that are or will be taken by the issuers to handle the impact, Binghannam concluded.