The embargo on insider trading performed by senior management and board members of Saudi-listed companies commences today, Sept. 16.
This is expected to affect companies that will disclose its financial results on Sept. 30.
The embargo period will end on the day of disclosing the financial results.
The Capital Market Authority (CMA) aims to ban well-informed executives of listed companies from using the information they get related to the financial performance of the firm to perform insider trading, which could affect the performance of the shares.
The third quarter results will start from Oct.1 till Nov.11.