Regulatory Alerts2024-02-06
Saudi Central Bank Circular Re. Principles on Trade Repositories
The Saudi Central Bank (SAMA) issued Circular No. 45049500 to update its Trade Repository Principles to align with CPMI-IOSCO standards, replacing previous regulations effective July 1, 2024. The document mandates that all approved Trade Repositories in Saudi Arabia adhere to comprehensive requirements covering legal basis, governance, risk management, operational resilience, and data privacy. These updated principles establish strict compliance obligations for trade reporting, data retention, and business continuity to ensure financial market stability.
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