King Abdullah, Custodian of the Two Holy Mosques, issued here Thursday two Royal Decrees, appointing Saud Bin Saleh Bin Hamad Al-Saleh as Secretary General of Supreme Economic Council at a rank of a minister, and reconstituting the Capital Market Authority Board. Dr Abdulrahman Bin Abdulaziz Al-Tuwaijri will continue as CMA Board Chairman. Abdulrahman Bin Mohammed Al-Rashed will be the new Vice-Chairman with Mohammed Bin Meghnim Al-Shumrani, Mazen Bin Abdulrazzaq Al-Rumaih, and Dr. Abdulrahman Bin Mohammed Al-Barrak as members. The Capital Market Authority, which was established by the Capital Market Law issued by a Royal Decree, is a government organization with financial, legal and administrative independence. It regulates and develops the Saudi Arabian Capital Market, protects investors and the general public from unfair and unsound practices involving fraud, deceit, cheating, manipulation and insider trading, achieve fairness, efficiency and transparency in securities transactions, develops measures to reduce the risks pertaining to securities transactions, regulates and monitors the issuance and trading in securities and entities subject to the control of the CMA, regulate and monitors full disclosure of information related to securities and their issuers, regulate proxy and purchase requests and public share offerings.
