Saudi Arabia's Capital Market Authority (CMA) yesterday announced three important executive bylaws aimed at regulating the market, worth SR500 billion, encouraging the public to invest in stocks with confidence and preventing fraudulent practices. The new laws regulate flotation of bonds, set out the principles for the enrollment of bonds and elucidate market etiquette, Arab News reported today. Jemaz Al-Suheimy, head of the authority, highlighted the significance of the three laws, saying they would protect investors and preserve market credibility without putting any unacceptable burden on the shoulders of investors, intermediaries and financial consultants. He said the CMA was keen on expediting the shifting to the new capital market system. Suheimy said the new laws would encourage the formation of more joint stock companies and contribute to enhancing fair and transparent stock market dealings. "This will encourage more Saudis to participate in the financial market and help the market achieve high degrees of transparency and confidence," he pointed out. --MORE 1151 Local Time 0851 GMT
