Capital Market Authority’s Response to the COVID-19 Pandemic
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Capital Market Authority’s Response to the COVID-19 Pandemic
The Capital Market Authority (CMA) is a regulatory body responsible for overseeing and regulating the Saudi Arabian capital markets. As such, it has been closely monitoring the impact of the COVID-19 pandemic on the capital markets and has taken several measures to mitigate its effects.
One of the first measures taken by the CMA was to issue a circular to all licensed entities outlining the necessary precautions to be taken to ensure business continuity in light of the pandemic. This included the adoption of remote working arrangements, the use of digital channels to conduct business, and the implementation of robust cybersecurity measures to ensure the security of data and transactions.
In addition, the CMA has taken several measures to support the financial sector and facilitate capital market activity during the pandemic. These measures include:
Launching a SAR 50 billion emergency loan guarantee program: In March 2020, the CMA announced the launch of an emergency loan guarantee program to support small and medium-sized enterprises (SMEs) affected by the pandemic. The program provides loan guarantees of up to SAR 5 million per SME, with a total funding allocation of SAR 50 billion.
Facilitating electronic IPO subscriptions: In order to ensure business continuity during the pandemic, the CMA has allowed investors to subscribe to initial public offerings (IPOs) electronically. This has made it easier for investors to participate in capital market activities, without having to physically visit banks or investment firms.
Extending filing deadlines: The CMA has extended the filing deadlines for financial reports and disclosures, in order to provide companies with more time to comply with regulatory requirements during the pandemic.
Allowing remote shareholder meetings: The CMA has allowed companies to hold shareholder meetings remotely, in order to ensure business continuity during the pandemic. This has made it easier for companies to comply with regulatory requirements, while also ensuring the safety of shareholders and employees.
Suspending fines for late disclosure: In light of the challenges faced by companies during the pandemic, the CMA has suspended fines for late disclosure of information, provided that companies disclose the information as soon as possible.
Encouraging investment in health care and technology sectors: The CMA has encouraged investment in the health care and technology sectors, in order to support the fight against the pandemic and promote the development of these sectors.
Overall, the CMA’s response to the COVID-19 pandemic has been focused on ensuring business continuity, supporting the financial sector, and facilitating capital market activity. The measures taken by the CMA have helped to mitigate the impact of the pandemic on the capital markets, while also ensuring that companies are able to comply with regulatory requirements and continue to provide essential services to their customers.
Capital Market Authority’s Response to the COVID-19 Pandemic
RUBRIC
Excellent Quality 95-100%
Introduction 45-41 points
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Literature Support 91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
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Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score 50-85%
40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality 0-45%
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75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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