Regulatory Alerts2018-05-24
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Ensuring Prompt Responses to Judicial Authorities and their Requests
The Saudi Arabian Monetary Authority mandates all supervised financial entities to promptly respond to judicial authorities, reply to legal requests within statutory deadlines, and execute court rulings without delay or procrastination. This directive addresses observed non-compliance that prolongs litigation, burdens judicial systems, and harms the financial sector's reputation. Entities and employees failing to adhere to these requirements will face statutory penalties and regulatory enforcement actions.
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