Your access and use of SAMA Regulatory Rulebook and its content is considered as an acceptance and approval of commitment by you without any limitation or condition to the following:
SAMA Regulatory Rulebook is a platform that aims to assist the regulated entities to access SAMA regulatory content adeptly and efficiently.
SAMA Regulatory Rulebook is still on its development and soft launch stage. SAMA is not liable for its contents and does not warrant or represent that (the Services related to the platform, information or material presented in the platform) is displayed free of any inaccuracies, omissions, or errors (“Faults”). SAMA accepts no liability for any loss, claim or damage resulting from any use of the platform, and any decisions made, or actions taken based on the information contained in or generated by the platform.
SAMA Regulatory Rulebook has no legal effect and it does not aim to amend or revoke any legal provisions. The Rulebook still Contains some documents under review, including translated versions. Therefore, SAMA Regulatory content circulated through SAMA official channels remains in force.
Without prejudice to the terms of use of SAMA website Hereby, you acknowledge that any illegal, unauthorized use and/or any breach of any of these provisions may result in legal actions against you.
Before making any of the changes set out in Paragraph (2) of this Article, a Licensee must obtain a non-objection letter from SAMA and provide reasons for making such changes with details of the proposed date on which each change is suggested to come into effect.
(2)
The changes include the following:
(a)
The changes to the details of the Licensee, including but not limited to the following:
(i)
Legal name (as shown on the public register); and trading name;
(ii)
Principal place of business;
(iii)
Address of the registered office in the Kingdom;
(iv)
Opening and closer of branches.
(v)
The contact details of the member of the Senior Positions that is the primary contact for communications with SAMA;
(vi)
Its website; and
(vii)
Details of any commercial registrations of its subsidiaries -where applicable -.
(b)
The changes to the operation, management or financing of the Licensee’s business, including but not limited to:
(i)
Any proposed restructuring, reorganization or business expansion, with a detailed explanation of any foreseeable that might result from changes to the Licensee’s risk profile;
(ii)
Any action that would result in a material change to the Licensee’s financial resources; and
(iii)
Changes to material outsourcing arrangements or material new agreements with service providers for outsourcing;
(c)
Changes to the policy documenting the methods adopted for Safeguarded Funds;
(d)
Changes to the natural persons making up the Senior Positions of a Licensee or changes affecting the fitness and propriety of any Controller or member of Senior Management;
