CmaBoardReleases
Title: Circular No. (9) of 2022 Regarding the Mechanism of Preparing and Submitting the Capital Adequacy Forms for Licensed Persons
Chairman of the Board of Directors
Greetings,
As part of the role of the Capital Markets Authority (CMA) in promoting and developing the supervisory mechanisms and tools, and the importance of the Capital Adequacy Regulations’ role in the management of the risks associated with securities activities, and in light of the findings resulting from the CMA’s continuous follow-up of the licensed person’s compliance with the provisions of Module Seventeen (Capital Adequacy Regulations for Licensed Persons) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments, a need has emerged to promote the mechanism of implementing such provisions in a simpler, easier, and more accurate manner, and in order to avoid human mistakes, reach a common and comprehensive understanding on the level of all licensed persons to effectively implement such Regulations and achieve the intended target.
In this regard, the CMA has provided an electronic file to facilitate and simplify the process of preparing and submitting the capital adequacy forms to the CMA, in addition to providing a guide - in both Arabic and English - on how to fill and submit this electronic file. Moreover, a special portal was established within the CMA electronic portal, to the submit the capital adequacy reports reviewed by the auditor, and to mandatorily attach the mentioned electronic file.
Accordingly, the licensed persons shall provide the CMA with the capital adequacy reports and the electronic file of the forms associated with it through the CMA electronic portal, as described in the attached guide, pursuant to Article (2-3) of Module Seventeen (Capital Adequacy Regulations for Licensed Persons) mentioned above, within the period stipulated in that Article. The submission shall be through the CMA electronic portal as indicated in the following table:
End of the reporting period |
Documents to be submitted through the portal |
Deadline for submission to the CMA |
December 31, 2021 |
Electronic file only |
July 31, 2022 |
March 31, 2022 |
Electronic file only |
August 31, 2022 |
June 30, 2022 and the later periods* |
The capital adequacy report reviewed by the auditor, in addition to the electronic file |
Pursuant to the period stipulated in Article (2-3) of Module Seventeen (Capital Adequacy Regulations for Licensed Persons) of the Executive Bylaws of the CMA Law |
* Submission may be through the CMA electronic portal without the need to submit through the General Register.
For any enquiries regarding filling out the file, please contact us through the following:
- Phone numbers:
22903177
22903498
22903834
Othman I. Al-Issa
Acting Managing Director
Issued on: 07/07/2022
The guide for preparation and submission of Capital Adequacy Forms
خطوات اعداد نماذج كفاية راس المال