Regulatory Alerts2022-01-01
Board of Administration Decision No. (191) for the Year 2022
The Capital Market Authority’s Board of Administration issued Decision No. (191) for 2022 to standardize regulatory compliance and licensing requirements for all capital market participants. The Decision mandates adherence to updated reporting standards, capital adequacy ratios, and transitional licensing provisions while amending conflicting prior regulations. It establishes clear implementation timelines, grants the Authority rulemaking powers for executive bylaws, and takes effect upon official publication.
Board of Administration Decision No. (191) for the Year 2022 Regarding the Regulation of Capital Market Activities
» Decision No. (222) for 2015 Regarding the Implementation of Capital Market Laws » Decision No. (481) for 2001 Regarding the Organization of Securities Trading » Decision No. (10) for 2001 Regarding the Licensing of Market Participants » Decision No. (31) for 2018 Regarding the Governance of Financial Institutions » Decision No. (222) for 2015 Regarding the Compliance Framework
Article One: Definitions and Scope It is stipulated that this Decision shall apply to all licensed entities operating within the capital market, as defined in the relevant regulatory framework.
Article Two: Regulatory Requirements Subject to Decision No. (222) for 2015, all market participants must adhere to the prescribed reporting standards and capital adequacy ratios.
Article Three: Implementation Procedures The Authority shall determine the specific operational guidelines, licensing criteria, and compliance timelines for market entities.
Article Four: Transitional Provisions It is further stipulated that existing licenses shall remain valid until the expiration of their respective terms, subject to renewal under this Decision.
Article Five: Amendments and Repeals This Decision amends the provisions of Decision No. (222) for 2015 and supersedes any conflicting regulations.
Article Six: Effective Date This Decision shall take effect from the date of its publication in the Official Gazette.
Article Seven: Final Provisions The Authority is authorized to issue all necessary executive bylaws and circulars to implement this Decision.
Reference: 101 – 2022/191 – 255/2022