SAUDI ARABIA: Saudi Arabia’s Capital Market Authority (CMA) approved regulatory amendments for investment funds including expanding fund unit distribution as well as setting new rules for fund termination and manager dismissal requiring CMA approval allowing REITs to invest in development projects at establishment.
Public funds can now subscribe to privately offered debt instruments where risk limits are set for money market and capital protection funds. Enhanced retail investor protection limits cash subscriptions to 50% in private and foreign funds.
