Saudi Arabia continues to strengthen its corporate governance framework to align with international best practices and Vision 2030 objectives. The Capital Market Authority (CMA) and Ministry of Commerce have introduced updated regulations that affect listed companies, family businesses, and joint-stock entities alike.
Key updates include enhanced board independence requirements, stricter disclosure obligations, mandatory ESG reporting for certain sectors, and clearer shareholder rights protections. Companies must now adopt formal authority matrices and ensure their internal policies comply with the new Corporate Governance Regulations issued under CMA Resolution No. (8-16-2017).
For businesses operating in the Kingdom, this means reviewing existing governance structures, updating bylaws, and training board members on their expanded fiduciary duties. Failure to comply can result in regulatory penalties and reputational damage.
At MA&Co Law Firm, we assist clients in navigating these changes by conducting governance audits, drafting policy documents, and ensuring full alignment with CMA and Ministry of Commerce directives.
