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Effective from Dec 01 2021 - Nov 30 2021 To view other versions open the versions tab on the right
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The Debt-Based Crowdfunding Company shall:
a.
Provide SAMA with any other required data, information, and/or documents in accordance with the forms, guidelines, and instructions and at the time determined by SAMA.
b.
Provide SAMA, upon its request, with all information and documents related to the Debt-Based Crowdfunding Company, its activities, partners, and staff. Refusal to do so shall be deemed a violation of the provisions of these Rules and the Law.
c.
Develop a business continuity plan.
d.
Develop a recruitment plan.
e.
Develop a plan for cessation of business to be updated periodically to consider any changes to the Company’s business model or in the risks to which the Company is exposed.
f.
Enable SAMA’s specialized staff and auditors to access relevant facilities, documents, and data (including digital data) upon request.
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The Debt-Based Crowdfunding Company and its staff shall not conceal, or attempt to conceal, any information or violations or refrain from answering any inquiries made by SAMA.
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SAMA may take necessary actions to ensure the compliance of the Debt-Based Crowdfunding Company with these Rules and relevant laws, regulations and instructions. Such actions may include making supervisory or inspection visits to the Company’s headquarters, meeting its staff, and reviewing its regulations, procedures, and records. SAMA may appoint a third party at the expense of the Debt-Based Crowdfunding Company to carry out any of the procedures taken in accordance with the provisions of these Rules.
