CMA organises corporate governance workshop
Events to be held in Riyadh, Jeddah and Al Khobar to ensure application of best standards
Dubai: The Capital Market Authority has invited all listed companies on the Saudi Stock Exchange (Tadawul) to participate in a specialised workshop titled "Preparing Board of Directors' Report and General Assemblies".
It will be held in three cities this month. This comes under the CMA's efforts to ensure the application of best standards in corporate governance and increase disclosure in boards of director reports.
The workshops will take place in Riyadh, Jeddah and Al Khobar.
The first workshop will be on January 14-15 at CMA's headquarters in Riyadh. The second will be on January 17-18 at the Movenpick Hotel in Al Khobar and the third and fourth workshops will take place in CMA's headquarters in Riyadh on January 21-22 and 24-25. The fifth and final workshop will be held on January 28-29 at Park Hyatt Hotel in Jeddah.
The Capital Market Authority Board issued Corporate Governance Regulations in 2006 to encourage companies to adopt and comply with governance principles and protect shareholders' rights.
CMA also mandates listed companies to apply the requirements of Clause B of Article 10 of the Corporate Governance regulations since the beginning of 2012 in accordance with the Board resolution issued on October 30, 2011.
The Authority started earlier to gradually mandate the regulations through Article 9 of the disclosure requirements in the board of directors' report and clauses C/E of Article 12 related to the formation of the board and Article 14 related to the audit committee.
