Abstract
In this article, disclosure and transparency issues in Saudi Arabia are discussed as they pertain to the Saudi capital market. Disclosure provisions in the CML and problems that result from inadequate disclosure are examined. Insider dealing, price manipulation and possible reforms of Saudi law are addressed. Finally, a brief account of voluntary disclosure and its impact on the mandatory disclosure of financial information by SSE-listed companies is given, as well as the WB’s findings on Saudi companies’ disclosure practices.
Highlights
This section examines the extent to which Saudi Arabia has complied with the OECD Principles of Corporate Governance
Saudi Arabia has no single, available, complete code of corporate governance, even though the CMA has issued a code which companies are recommended to follow
This improvement is only a small step, and a complete overhaul of the system is needed to develop the corporate sector and make sure there is sufficient corporate governance in Saudi Arabia.[203]. This articel has dealt with the issues that involve corporate transparency in the Saudi capital market
Summary
Disclosure and transparency issues in Saudi Arabia are discussed as they pertain to the Saudi capital market. Disclosure provisions in the CML and problems that result from inadequate disclosure are examined. Price manipulation and possible reforms of Saudi law are addressed. A brief account of voluntary disclosure and its impact on the mandatory disclosure of financial information by SSE-listed companies is given, as well as the WB’s findings on Saudi companies’ disclosure practices
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