Regulatory tracker
A searchable log of CMA and Saudi Exchange announcements that change the rules for listing and for listed companies. Each entry says only what the announcement says, and links to it.
Please read. This tracker is an index of official announcements, not legal, financial or investment advice, and it may be incomplete. The Arabic official texts prevail. Read the full text at the linked official source before relying on any entry.
Showing 7 of 7
21 October 2026
CMA
Public consultation
Consultation on fuller disclosure in the board report's discussion of financial performance
The CMA invites comments on draft provisions that would gather the performance disclosures in a listed company's annual Board report into one separate section, "Discussion and Analysis of Financial and Operational Performance and Financial Position", with a minimum content: an analysis of performance, results, financial position and liquidity; the reasons behind material changes; material trends and uncertainties expected to affect the company; key performance indicators; and liquidity, solvency and capital resources compared with the previous year.
Comments until 20 November 2026. Per the announcement: mandatory for Main Market companies from the first Board report issued after the provisions are approved; indicative for Nomu companies, and mandatory for them from the first annual Board report issued in the year after approval.
29 September 2026
CMA
Public consultation
Consultation on draft rules for earnings calls
The CMA invites comments on draft rules that would require every Main Market company to hold an earnings call twice a year, within five business days of announcing its results and after market close, and to publish the presentation and recording on its website.
Comments until 29 October 2026. The CMA states the final rules would apply from the announcement of annual results for fiscal year 2026.
22 September 2026
CMA
Public consultation
Consultation on draft provisions to enhance IPO practices
The CMA invites comments on draft provisions for the book-building stage of an IPO: the underwriting agreement would have to be in force before book-building starts, participation orders would have to reflect the investor's actual liquidity (cash or cash equivalents), and issuers would disclose forward-looking information for at least one year.
Comments closed on 22 October 2026. The CMA states the final version would take effect on 2 November 2026.
2 April 2026
Saudi Exchange
Approved by the CMA Board
CMA Board approves a framework for SPACs on Nomu
The Board approved amendments that allow special purpose acquisition companies (SPACs) to offer shares on the Parallel Market (Nomu). Among the requirements: the company is established by a sponsor, its shares are redeemable at the shareholder's option, its capital after the offering is at least SAR 100 million, and the deal must be completed within 24 months of listing (extendable by 12 months with Extraordinary General Assembly approval).
Effective from the date of publication, per the announcement.
2 April 2026
Saudi Exchange
Approved by the CMA Board
CMA Board approves rules on removing board members and on distributable profits
Amendments to the Implementing Regulation of the Companies Law for Listed Joint Stock Companies. One or more shareholders holding at least 10% of the voting shares may request the removal of all board members once at least six months of the board's term have passed. Distributable profits may be based on the latest reviewed or audited financial statements instead of the audited annual ones.
22 January 2026
CMA
Approved by the CMA Board
CMA approves controls on real estate ownership by listed companies, funds and special purpose entities
The Board approved the Controls on the Ownership of Real Estate in the Kingdom by Listed Companies, Investment Funds and Special Purpose Entities, including the cities of Makkah and Madinah. They replace the controls issued in January 2025.
Effective from the date the Law of Real Estate Ownership by Non-Saudis (Royal Decree M/14) takes effect, per the announcement.
6 January 2026
CMA
Approved by the CMA Board
CMA opens the capital market to all categories of foreign investors
Following the Board's approval, non-resident foreign investors can invest directly in the Main Market. The Qualified Foreign Investor concept and the swap-agreement framework for the Main Market are removed.
Direct investment open as of 1 February 2026, per the announcement.
A daily check looks for new announcements. A new entry is added only after its official page is read.