CMA recomposes advisory committee

CMA board meeting

The Capital Market Authority (CMA) decided to recompose the advisory committee for its 10th term, which includes 11 part-time members, representing market participants, experts, specialists, and experienced academics, according to the CMA website.

The committee will provide recommendations and suggestions for any topics presented by the CMA to be studied, in addition to discussing the topics and suggestions of the market participants and monitoring their reactions to any new changes or policies to be adopted by the CMA.

The committee will also express opinions and recommendations on anything that would contribute to market development and the protection of securities investors.

It will also exercise its tasks as an advisory body for the CMA board.

The committee is comprised of a number of part-time members, including Nabeel Koshak, CEO of Saudi Venture Capital Co. (SVC), Waleed Abdullah Al-Mogbel, Managing Director and CEO of Al-Rajhi Bank, Abdulwahab AlGahtani - Associate Professor at the King Fahd University of Petroleum and Minerals and economic writer, Sultan Almasoud, Partner at The Law Firm of Dr. Sultan Almasoud in association with Shearman & Sterling LLP, Omer Abdullah Alnomany, CEO of Arabian Internet and Communications Services Co., Adel Al-Ateeq, CEO of Awaed Financial Assets Co., Ms. Khlood Abdulaziz Aldukheil, CEO of Erteqa Financial Company, Mr. Rashed Ibrahim Sharif - CEO of SNB Capital, Mr. Abdulaziz Alomran, CEO of Impact, Basem Alsallom, Managing Director of Sure Global Technology, and Saleh Abdullah Alyahya, Partner at Alluhaid & Alyahya Chartered Accountants (“LYCA").

The CMA board had previously approved the Advisory Committee Regulations pursuant to the Capital Market Law. The main purpose of this resolution is to enable effective communication between the CMA and all different market participants and create a regulated mechanism for such interaction to support the CMA in fulfilling its functions and achieving its goals.