Regulatory Alerts2006-07-15
Investment Funds Regulations
The Capital Market Authority Board of Saudi Arabia has issued these regulations to comprehensively govern the registration, offering, management, and custody of public, private, and foreign investment funds within the Kingdom. Licensed fund managers and custodians are mandated to uphold fiduciary duties, ensure asset segregation, maintain accurate valuation and pricing mechanisms, and fulfill rigorous disclosure and reporting obligations to both unitholders and the Authority. The framework establishes distinct operational rules for specialized fund structures, including exchange-traded and real estate funds, while granting the Authority explicit powers to waive provisions, impose fees, and remove or replace key market participants.
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