Authority & scope
Sections ↑Saudi Arabia’s Capital Market Authority is the statutory regulator created under the Capital Market Law. Its published remit includes regulating and developing the capital market, licensing and supervising capital-market institutions, protecting investors from unfair or unlawful practices and promoting disclosure, fairness and transparency. The CMA, Saudi Exchange, Securities Depository Center and securities-dispute committees perform different functions.[1]
Where the CMA fits
| Measure | Value | Context |
|---|---|---|
| Authority | Capital Market Authority | Government authority with financial, legal and administrative independence under the Capital Market Law.Source 1 |
| Primary supervised activity | Securities business and capital-market institutions | Permissions depend on the named institution and activity.Source 1Source 2 |
| Market operator and depository | Separate Saudi market-infrastructure companies | An exchange/depository relationship is not a substitute for CMA authorisation.Source 1 |
| Private dispute adjudication | CRSD and appeal committee framework | The regulator complaint and the securities-dispute claim are separate routes.Source 7Source 9 |
Registers & licence checks
Sections ↑How to read the institution directory
| Check | What it establishes | Limit |
|---|---|---|
| Legal institution name | The firm listed by the CMA | A trading name or bank group alone does not identify the contracting securities company.Source 2 |
| Authorised activities | Dealing, custody, arranging, advice and/or investment management shown for the institution | One listed activity does not grant every other activity.Source 2 |
| Current notes/status | Whether an institution has not commenced, has a restriction or has a later update | A historical licence announcement is not a current-status check.Source 2 |
| Website/payment identity | Compare the official institution and authenticated account instructions | Absence from a warning list is not permission.Source 2Source 5 |
The directory is the practical starting point for a named broker or investment company. Match the legal person in the customer agreement, then read the current activities and notes. The publication date of a licence or press release should not replace the live institutional record.[2]
Check the exact legal entity, permissions, current status and scope in the official record. A brand connection in our coverage does not establish authorisation.
Rules for firms & products
Sections ↑Material operating boundaries
| Area | Regulatory purpose | Reader consequence |
|---|---|---|
| Authorised securities business | Only appropriately authorised institutions may perform regulated securities activities | Check the activity, not only the company name.Source 2Source 5 |
| Conduct and integrity | Institutions and registered persons are subject to conduct obligations | Authorisation is not a guarantee of investment performance.Source 6Source 9 |
| Client assets and custody | Institutions with custody/client-asset responsibilities must follow the applicable rules | Custody controls do not insure market or issuer loss.Source 2Source 6 |
| Rules version | Use the current rules portal and operative amendments | A consultation, circular or older English summary may not be the current rule.Source 4 |
Client assets & protections
Sections ↑Protection mechanisms are not interchangeable
| Mechanism | What it addresses | What it does not establish |
|---|---|---|
| Authorised institution and custody permissions | Who may deal, arrange, manage, advise or safeguard assets | No promise that an investment cannot fall in value.Source 2 |
| Conduct supervision and enforcement | Regulatory action against breaches within the CMA’s remit | Not an automatic personal refund.Source 1Source 9 |
| CRSD private claim | A securities-dispute process capable of deciding eligible claims | Eligibility, evidence, limitation and appeal rules still apply.Source 7Source 8 |
| Class/individual compensation claim after a proven violation | Affected persons may be able to claim where the published decision and procedure allow | A final enforcement decision does not automatically pay every investor.Source 9 |
Client money and custody rules
| Subject | Published rule |
|---|---|
| Segregation | Articles 69–70 separate client assets from the institution’s estate; its creditors have no entitlement to the segregated assets.Source 6 |
| Holding client money | Custody authorisation is normally required. The arranging exception for securities crowdfunding limits held client money to SAR 80 million overall and SAR 100,000 per retail client. These are holding limits, not compensation caps.Source 6 |
| Reconciliation | Article 79 requires a daily client-money sufficiency calculation and same-day correction of a shortfall. Article 80 separately requires reconciliation at least every seven days.Source 6 |
| Securities lending | Article 86 requires the client’s prior express written consent.Source 6 |
Complaints & dispute resolution
Sections ↑From an account complaint to a securities claim
| Subject | Published rule |
|---|---|
| Institution complaint | The CMA complaint service refers complaints about supervised entities to the entity for attempted settlement. The complainant may escalate to the CMA if unresolved.Source 12 |
| CMA service | The online complaint service is free and lists a ten-day service duration. This service description is separate from the statutory CRSD waiting period.Source 12 |
| CRSD filing prerequisite | First complain to the CMA; normally wait 90 days from that filing. Earlier filing requires CMA permission, subject to applicable exceptions.Source 10Source 11 |
| Appeal | File an appeal within 30 days after notification of the CRSD decision. Appeal Committee decisions are final.Source 10 |
Article 30(g) of the Capital Market Law makes the CMA complaint a general filing prerequisite, rather than a condition confined to particular enforcement announcements. The law also allows the CMA to define exceptions. Article 30(d) requires consideration of the claim to begin within 14 days of filing with CRSD; it does not promise a judgment within 14 days.[10]
Preparing a CRSD electronic claim
| Subject | Published rule |
|---|---|
| Complaint reference | Enter the CMA complaint number; the lawsuit information and subject must match the complaint.Source 11 |
| Parties and authority | Supply the claimant’s and respondent’s identifying details, plus the representative’s authority where applicable.Source 11 |
| Evidence and language | Upload the required identity and supporting documents. Documents in another language require translation by a certified translation office.Source 11 |
Report misconduct, scams or unauthorised activity
Sections ↑Choose the route by purpose
| Issue | Route | Boundary |
|---|---|---|
| Unauthorised securities activity | Report through the CMA’s official channels and preserve the website, payment and communication evidence | A report is regulatory intelligence, not proof of recovery.Source 13Source 5 |
| Account/service dispute | Complain to the institution and preserve the response | Operational redress and supervisory reporting are separate.Source 12 |
| Claim for securities-law loss | Follow the CMA-first filing requirements and the CRSD electronic claim process | The committee’s jurisdiction and deadlines govern.Source 11 |
| Published final violation affecting investors | Read the exact CMA/CRSD announcement for claimant scope | Do not assume every market participant is an eligible claimant.Source 9Source 8 |
Compensation & firm failure
Sections ↑The CMA’s financial-compensation service is for investors already entitled to compensation under a CRSD decision. It asks for the relevant investor-protection record, bank details and an IBAN certificate. This award-payment route does not establish a blanket insured balance for every CMA-authorised brokerage account.[14]
What must be established for a recovery claim
| Measure | Value | Context |
|---|---|---|
| Respondent | The responsible institution or person | Match the legal relationship and conduct.Source 7 |
| Legal basis | The applicable Capital Market Law/rule or contractual duty | A market loss alone does not establish a breach.Source 4Source 7 |
| Procedure | CMA complaint followed by the eligible CRSD filing | The general prerequisite is explained above; a relevant final-decision or class-action notice may supply further claimant instructions.Source 11Source 9 |
| Decision effect | Whether the decision is first-instance, appealed or final | Only the actual procedural status should be reported.Source 9Source 8 |
Contacts & official resources
Sections ↑Official public routes
Scope Official firm, activity and commencement-status checks.
Scope Complaint submission, required documents and escalation.
Scope Regulatory reporting of suspected securities-law breaches.
Scope Filing prerequisites, party details and supporting documents.
Scope Official electronic-services entry; authenticated filing is required.
Scope Payment requests supported by a CRSD compensation decision.
CMA authorised institutions
- Responsible body
- Capital Market Authority
- Scope
- Institution names, activity filters and current notes.
- Resource availability
- Available
- Checked
- Source 2
CMA complaints
- Responsible body
- Capital Market Authority
- Scope
- Complaints within the Capital Market Law; supervised entities receive an initial settlement referral.
- Resource availability
- Available
- Checked
- Source 12
CRSD filing requirements
- Responsible body
- General Secretariat of Committees for Resolution of Securities Disputes
- Scope
- Prerequisites and documents for an electronic securities claim.
- Resource availability
- Available
- Checked
- Source 11
CRSD electronic services
- Responsible body
- General Secretariat of Committees for Resolution of Securities Disputes
- Scope
- Official entry page; authenticated form fields were not inspected.
- Resource availability
- Restricted
Report a violation
- Responsible body
- Capital Market Authority
- Scope
- Reports of potential securities-law violations.
- Resource availability
- Available
- Checked
- Source 13
Payment after a CRSD award
- Responsible body
- Capital Market Authority
- Scope
- For investors with a CRSD compensation decision; requires bank evidence.
- Resource availability
- Available
- Checked
- Source 14
CMA implementing regulations
- Responsible body
- Capital Market Authority
- Scope
- Official regulations index and linked operative documents.
- Resource availability
- Available
- Checked
- Source 4
Resource availability describes the documented route. It does not establish eligibility, authorisation or compensation coverage.
Changes, enforcement & background
Sections ↑How to read later developments
| Development | Required interpretation |
|---|---|
| New or changed institution entry | Use the current directory date and note before relying on the firm’s marketing.Source 2 |
| Consultation or rule amendment | Separate proposal, approval, publication and commencement.Source 4 |
| Enforcement announcement | Record allegation/decision level, sanction, appeal and finality.Source 9 |
| Compensation notice after a final decision | Use the exact affected-person and filing instructions.Source 9Source 8 |
The current regulations index links the Capital Market Institutions Regulations amended on 7 January 2026. The English regulations and Capital Market Law are informational translations; their official Arabic texts govern. Historical announcements remain useful for the stated decision, while current filing instructions govern a new submission.[4][6][10]
Sources & further reading
- Capital Market Authority: legal basis, remit and responsibilities Capital Market Authority Saudi Arabia · Accessed 29 Oct 2026
- Authorised capital-market institutions directory and activity filters Capital Market Authority Saudi Arabia · Accessed 29 Oct 2026
- Capital Market Authority official website Capital Market Authority Saudi Arabia · Accessed 29 Oct 2026
- Implementing regulations: official index and current documents Capital Market Authority Saudi Arabia · Accessed 29 Oct 2026
- Warning on dealing with unauthorised securities institutions, 1 December 2015 Capital Market Authority Saudi Arabia · 1 Dec 2015 · Accessed 29 Oct 2026
- Capital Market Institutions Regulations, amended 7 January 2026: conduct and client assets Capital Market Authority Saudi Arabia · Accessed 29 Oct 2026
- CRSD jurisdiction and dispute-resolution framework General Secretariat of Committees for Resolution of Securities Disputes · Accessed 29 Oct 2026
- Final CRSD decision announced 13 February 2025: affected-investor claims General Secretariat of Committees for Resolution of Securities Disputes · 13 Feb 2025 · Accessed 29 Oct 2026
- Final CRSD/ACRSD decisions and affected-investor claims, 13 February 2025 Capital Market Authority Saudi Arabia · 13 Feb 2025 · Accessed 29 Oct 2026
- Capital Market Law: Article 30, securities disputes and appeal procedure Capital Market Authority Saudi Arabia · Accessed 29 Oct 2026
- Current requirements for filing a lawsuit with CRSD General Secretariat of Committees for Resolution of Securities Disputes · Accessed 29 Oct 2026
- File a complaint: official service, documents and escalation Capital Market Authority Saudi Arabia · Accessed 29 Oct 2026
- Report a violation: official regulatory reporting service Capital Market Authority Saudi Arabia · Accessed 29 Oct 2026
- Request financial compensation after a CRSD award Capital Market Authority Saudi Arabia · Accessed 29 Oct 2026
- CRSD electronic services entry point General Secretariat of Committees for Resolution of Securities Disputes · Accessed 29 Oct 2026
A documented resource is not a finding of eligibility or compensation coverage. Consult the named body and current official terms for your firm, product and circumstances.
Report an error or submit an update
Covered broker profiles
Profiles connected to this authority in our coverage. This is not a complete official register or a list of approved brokers; see each entity’s dated status.
Al Rajhi Capital
A detailed Saudi profile of Al Rajhi Capital’s local, Gulf and international brokerage, app/web/telephone channels, custody, market and currency boundaries, Murabaha financing, funds, IPO services, licence evidence and complaint routes.
- Operating status
- Active
- Headquarters
- Riyadh, Saudi Arabia
- Sources checked
- 15 Oct 2026
Aljazira Capital
Aljazira Capital combines Saudi and selected overseas brokerage with Murabaha and intraday Qard Hassan finance. Compare financing horizons, digital-opening requirements, bank-link options, transfer instructions and the CMA-licensed entity.
- Operating status
- Active
- Headquarters
- Riyadh, Saudi Arabia
- Sources checked
- 29 Oct 2026
Derayah Financial
Derayah offers Saudi dealing, Global trading and Smart managed portfolios. This profile explains the standard Global tariff, the newer Lite offer, VAT, Smart cash-access timing and the differences between its current public pricing and margin disclosures.
- Operating status
- Active
- Headquarters
- Riyadh, Saudi Arabia
- Sources checked
- 29 Oct 2026
Riyad Capital
A detailed reference to Riyad Capital’s Saudi brokerage, Basic and Professional US packages, listed derivatives, ambiguous sukuk pricing, daily and monthly margin routes, cash access, support and CMA entity scope.
- Operating status
- Active
- Headquarters
- Riyadh, Saudi Arabia
- Sources checked
- 29 Oct 2026
SNB Capital
A detailed reference to SNB Capital’s Saudi and 30-market international trading routes, US and regional commissions, conflicting withdrawal tariffs, Sharia margin financing, custody, support and CMA entity scope.
- Operating status
- Active
- Headquarters
- Riyadh, Saudi Arabia
- Sources checked
- 16 Oct 2026