Regulatory Alerts2024-02-06
SAMA Principles on Trade Repositories
Issued by the Saudi Central Bank (SAMA) in February 2024, these Principles mandate that authorized Trade Repositories operating in the Kingdom adhere to comprehensive CPMI-IOSCO standards for financial market infrastructures. The framework establishes twelve core principles governing legal basis, governance structures, risk management, operational reliability, cybersecurity, and transparent data disclosure, while requiring repositories to maintain sufficient liquid equity and enforce objective participation criteria. SAMA will conduct ongoing onsite and offsite oversight to ensure compliance, with strict reporting obligations for disruptions and data privacy that safeguard market stability and operational continuity.
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