Saudi Arabia's Capital Market Authority (CMA) has proposed amendments to strengthen disclosure requirements for investment funds and real estate investment funds. The draft would consolidate continuing disclosure and announcement obligations in one section of the regulations, expand reporting on conflicts of interest and specified events, and make the Exchange's website the mandatory primary publication channel while permitting additional websites. Annual and periodic reports would provide more detail on dividends, the sources and nature of cash distributions, the fund's top 10 investments, and the revenue and sectoral distribution of real estate assets. Annual reports would also include analysis of fund performance against the benchmark, performance drivers, future expectations and, for public funds, a risk assessment report. The proposals would also revise disclosure requirements for fund terms and conditions.
Saudi Arabia's Capital Market Authority launches consultation on expanded investment fund disclosure requirements
Saudi Arabia's Capital Market Authority is consulting on expanded disclosure requirements for investment funds and real estate investment funds. The proposals would consolidate continuing obligations, broaden annual and periodic reporting, and make the Exchange's website the mandatory primary disclosure channel.