Regulatory Alerts2022-06-16 | 46/2022Royal Decree 46/2022 on the Issuance of the Securities Law
Sultan Haitham bin Tarik promulgated Royal Decree 46/2022 to enact a comprehensive Securities Law that supersedes the 1998 Capital Market Act and mandates the electronic issuance, trading, and custody of financial instruments. The decree grants the Capital Market Authority sweeping powers to license securities entities, conduct investigations, enforce professional conduct standards, and safeguard customer interests through transparent pricing and risk disclosure. Regulated entities must obtain licensing or registration within six months, while the Authority must issue implementing regulations within one year to govern SME crowdfunding, market operations, and cross-border information exchange.
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