Regulatory Alerts2019-07-27
Establishment of a Center for the Registration and Disclosure of Over-the-Counter Derivative Transactions
The Saudi Central Bank has formally approved the Saudi Credit Bureau (SIMAH) to establish a dedicated trade repository for the registration and disclosure of over-the-counter derivative transactions. This authorization is granted under the legal frameworks of the SAMA System, the Bank Supervision System, and the Credit Information System, and explicitly mandates SIMAH's strict adherence to the attached Trade Repository Operator Rules and Regulations. The directive operationalizes a centralized reporting mechanism to enhance market transparency and regulatory oversight for OTC derivatives in the Kingdom.
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