Regulatory Alerts2025-06-03
Cross-Border Passporting Guide for Investment Funds
The Capital Market Authority of Saudi Arabia has issued this guide to establish the regulatory framework for cross-border passporting of investment funds into the Kingdom, mandating licensed agents to manage applications, maintain local unitholder registers, and fulfill ongoing disclosure and reporting obligations. The regulations differentiate operational requirements for public and private funds by specifying targeted investor categories, standardized disclaimer wording, fee structures, and advertising standards while granting the Authority suspension powers to protect market integrity. Furthermore, the guide outlines continuous agent responsibilities post-termination, mandates timely refund procedures for unmet minimum offerings, and designates the Committee for the Resolution of Securities Disputes as the exclusive adjudicating body for related claims.