Saudi regulator opens consultations on a broad market-rule overhaul

Weeks after Mazen Al-Sudairi became chair, Saudi Arabia’s Capital Market Authority has put several connected reforms out for public consultation rather than announcing one sweeping finished rulebook. The proposals would formalize earnings calls so listed companies communicate more consistently with investors and analysts, while placing limits and stronger controls on algorithmic trading to reduce the risk that automated orders disrupt trading. A separate IPO package would require institutional bids to be backed by real available cash and make underwriters responsible for buying shares left unsold, making the demand used to set an offer price more credible. Alongside approved measures to strengthen audit quality, the push is aimed at a simple problem: investors need more reliable information, prices and safeguards if a growing market is to earn durable trust.