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تعميم آلية نقل الأوراق المالية محل اتفاقيات المبادلة الى حساب مستثمر أجنبي مؤهل أو الى حساب مستفيد نهائي فعلي

cma_gov_sa · circular · processed · 14 chunks
document_type=circular entity=format:application/pdf language=mixed taxonomy_l1=commercial taxonomy_l2=market_regulation validity=valid validity_confidence=0.6
هينه السوقي الماليه
Capital Market Authority
23/6478/6/1/ص ٢٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠٠
1445 / 02 / 07
2023 / 08 / 23
0
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<|det|>header [144

المملكه العربيه السعوديه
هينه السوق الماليه
Capital Market Authority
(254)
[Non-Text]
(٢) يتحذ مركز الايداع " الاجراءات اللازمه لتفيذ عمليه النقل واغلاق حساب اتفاقيات المبادله
الخاص بالمستثمر الاجنبي المؤهل المعني.
(٤) تقذ عمليه النقل بعد التاكد من عدم وجود التزامات (ومن ذلك، رهن او حجز الاوراق الماليه)
او اوامر بيع وشراء قايمه في شان الاوراق الماليه المراد نقلها.
(٥) تكون تكلفه النقل ٢٠ ريالا سعوديا للشركه الواحده.
ب- نقل الاوراق الماليه من حساب اتفاقيه مبادله الي حساب مستثمر اجنبي مؤهل مع تصحيح لوضع
مخالف لمتطلبات الفقره (١٠) من الماده التاسعه من القواعد المنظمه للاستثمار الاجنبي في الاوراق
الماليه في حال لم يكن المستثمر الاجنبي المؤهل مسجل لدي مركز الايداع سابقا كمستفيد
نهايي في اتفاقيه مبادله:
(1) يتقدم مدير الصندوق او من ينوب عن المستثمر الاجنبي المؤهل عن طريق مؤسسه السوق الماليه
التي فتحت له الحساب الاستثماري بصفته مستثمرا اجنبيا مؤهلا بطلب نقل مفصل لجميع
الاوراق الماليه موضوع اتفاقيه المبادله التي يكون المستثمر الاجنبي المؤهل هو المستفيد النهايي
الفعلي منها الي حسابه لدي مركز الايداع كمستثمر اجنبي مؤهل، وذلك وفق النموذج الذي
يعدە مركز الايداع لهذا الغرض. وتكون تكلفه النقل ٧٠ ريالا سعوديا للشركه الواحده.
(٢) يجب تقدمي الطلب المشار اليه في الفقره رقم (١) اعلاه عند التقدم بطلب فتح حساب لدي
مركز الايداع، علي ان يتضمن تاكيدا بان المستثمر الاجني المؤهل هو المستفيد النهايي
الفعلي من الاوراق الماليه محل طلب النقل.
(٣) يتخذ مركز الايداع الاجراءات اللازمه لتنفيد عمليه النقل.
(٢) تنفذ عمليه النقل بعد التاكد من عدم وجود التزامات (ومن ذلك، رهن او ججز الاوراق الماليه)
او اوامر بيع وشراء قايمه في شان الاسهما المراد نقلها.

تنص الفقره (٢٠) من الماده التاسعه من القواعد المنظمه للاستثمار الاجنبي في الاوراق الماليه الصادره عن المجلس بموجب القرار رقم (٢٠٢٠-٢٠٢٠) وتاريع
٢٠/٩/٥ ه المواهق ٢٠٢٠٢٠ م علي انه: يجب علي مؤسسه السوق الماليه شراء وبيع الاوراق الماليه موضوع سقفات المبادله عبر معظفه استثماريه باسمها لدي
مركز الابداع ويجب ان تتضمن تلك المحطه الاستثماريه الي ان الغرض منها تنفيذ سقفات مبادله تحت اتفاقيه المبادله، والاشاره الي اسم وجنسيه وبيانات
هويه المستفيد النهايي، ومما يعد مخالفه لهذه الفقره. ان يكون المستثمر الاجنبي الراغب في فتح حساب لدي مركز الابداع كمستثمر اجنبي مؤهل، صندوق استثمار
ويستثمر كمستفيد نهايي بههم احدي الشركات المدرجه في السوق الماليه السعوديه عبر حساب اتفاقيه مبادله، ولم يكن مسجلا في مركز الابداع كمستفيد
نهايي في حساب اتفاقيه المبادله وانما مدير الصندوق او اي شخص ينوب عن مدير الصندوق هو من كان مسجلا لدي مركز الابداع كمستفيد نهايي. في هذه الحاله.
tتم المقاله من خلال نقل الاوراق الماليه من حساب اتفاقيه المبادله لحساب المستفيد النهايي الفعلي لتصحيح الوضع المخالف لضوابط اتفاقيات المبادله.
٢ تجدر الاشاره الي ان النقل في هذه الحاله سيتم من حساب اتفاقيه مبادله باسم بمر الصندوق او اي شخص ينوب عنه (مسجل كمستفيد نهاي) الي حساب باسم
المستثمر الاجنبي المؤهل النهايي الفعلي

المملكه العربيه السعوديه
هينه السلوق الماليه
Capital Market Authority
(254)
[Non-Text]
(٥) يقوم مدير الصندوق بتقدمي طلب فتح حسابات اتفاقيات مبادله لدي مركز الايداع لباقي
المستفيدين النهاييين الفعليين الذين يستثمرون من خلال حساب مدير الصندوق ولم يقوموا
بفتح حساب لدي مركز الايداع كمستثمرين اجلاب مؤهلين، مع الاشاره الي ان النقل لن
يكون الا عن طريق تنفيذ صفقات بيع وشراء بالرسوم المحدده من قبل شركه تداول السعوديه
والمعتمده من قبل مجلس الهينه.
ثانيا: نقل الاوراق الماليه من حساب مدير الصندوق في اتفاقيه مبادله الي حساب المستفيد النهايي
الفعلي لتصحيح وضع مخالف لمتطلبات الفقره (١٠) من الماده التاسعه من القواعد المنظمه للاستثمار
الاجني في الاوراق الماليه:
ي حال قيام مدير الصندوق المخالف للفقره (١٠) من الماده التاسعه من القواعد المنظمه للاستثمار
الاجني في الاوراق الماليه بتصحيح الوضع المخالف وفتح حسابات مستقله لكل مستفيد نهايي فعلي
دون تسجيل اي منهم كوستثمر اجبني مؤهل، فان عمليه تصحيح الوضع المخالف ستكون وفقا
للاليه والتكاليف الموضحه في الفقره (ب/5) من البند (اولا).
ويغ حال وجود اي استفسارات تامل التواصل مع اداره تطوير المنتجات الاستثماريه علي البريد
(٠١١-٤٩٠٦٠٦) او علي الهاتف رقم (FI-QFI@cma.org.sa

و تقبلوا اطيب التحيه والتقدر،
بندر بن سليمان العايد
وكيل الهييه لمسسات السوق

العربيه السعوديه
هييه السوق الحاليه
Capital Market Authority
(254)
The Mechanism of Transferring Securities Under Swap Agreements to a Qualified Foreign Investor's Account or to an Actual Ultimate Beneficiary's Account
Reference to the Capital Market Authority's (the “Authority”) circular number (18/3381/6/1/ص) dated 21/08/1439H corresponding to 07/05/2018G regarding its approval for The Mechanism of Transferring Securities Under Swap Agreements to a Qualified Foreign Investor's Account or to an Actual Ultimate Beneficiary’s Account. We would like to inform you that the Authority’s Board of Commissioners has issued its resolution dated 08/01/1445H corresponding to 26/07/2023G regarding the approval for updating The Mechanism of Transferring Securities Under Swap Agreements to a Qualified Foreign Investor's Account or to an Actual Ultimate Beneficiary’s Account, to be as follows:
Part 1: Transferring Securities from an Ultimate Beneficiary's account in a Swap Agreement to a Qualified Foreign Investor's Account:
Foreign investors who invest in the Saudi Capital Market via an ultimate beneficiary swap account after being accepted as a qualified foreign investor (QFI) for a period not exceeding twelve months from the date of opening a QFI account, shall transfer all securities under the swap agreements where such QFI is the actual ultimate beneficiary, if any, from the swap agreement account to his account as a QFI, as following:
A- Transferring securities from a swap agreement account to an account of a QFI registered at the Securities Depository Center ("the Depository Center") as the ultimate beneficiary in the swap agreement with a capital market institution:
1) The QFI shall submit through the capital market institution that opened the QFI's investment account – a detailed transfer request of all securities under his swap agreement account where the QFI is the ultimate beneficiary, to his account at the Depository Center as per the form prepared by the Depository Center for this purpose.
2) The transfer request mentioned in paragraph (1) above shall be submitted when applying for opening an account with the Depository Center.
3) The Depository Center shall take the necessary procedures to execute the transfer process and close the swap agreements account of the QFI in relation.
8

اليملكه العربيه السعوديه
هييه السوق الحاليه
Capital Market Authority
(254)
4) The transfer process shall be executed after ensuring that there are no obligations (including, but not limited to, pledges or seizures on securities) or an on-going buy and sell orders on the securities in relation to the transfer request.
5) The cost of transferring is 20 Saudi Riyals for each company.
B- Transferring securities from a swap agreement account to a QFI account and correcting a violation of paragraph (10) of the article nine of the Rules for Foreign Investment in Securities where the QFI was not previously registered at the Depository Center as an ultimate beneficiary of a swap agreement \( ^{1} \) :
1) The fund manager, or any person acting on behalf of the QFI, shall through the capital market institution that opened the QFI's investment account - submit a detailed transfer request of all the securities under his swap agreement in which the concerned QFI is the actual ultimate beneficiary thereof, to his QFI account at the Depository Center, as per the form prepared by the Depository Center for this purpose. The cost of transferring is 70 Saudi Riyals for each company\( ^{2} \).
2) The transfer request mentioned in paragraph (1) above shall be submitted when applying for opening an account at the Depository Center, provided that such request includes a confirmation that the QFI is the actual ultimate beneficiary of the securities to be transferred.
3) The Depository Center shall take the necessary procedures to execute the transfer process.

\( ^{1} \) Paragraph (10) of article nine of the Rules for Foreign Investment in Securities issued by the Authority's Circular number (2023-26-2) dated 5/9/1444H corresponding to 27/3/2023G states that: "the Capital market institution must purchase and sell the securities underlying the swap transactions through an investment portfolio under its name with the Depositary Centre. Such investment portfolio shall include an indication that it is for the purpose of executing swap transactions under the Swap Agreement, and an indication of the name, nationality and identity of the Ultimate Beneficiary" and it is considered to be a violation of this paragraph if a foreign investor who is willing to open a QFI account is an investment fund investing as an ultimate beneficiary in a share of a listed company in Tadawul through a swap agreement account, without being registered at the Depositary Center as the ultimate beneficiary of the swap agreement account, as the fund manager or the person acting on behalf of the fund manager is the registered ultimate beneficiary at the Depositary Center. In this case, the violation is addressed through transferring the securities from the swap agreement account to the actual ultimate beneficiary's account for the purpose of correcting the violation of paragraph (10) of the article nine of the Rules for Foreign Investment in Securities.
\( ^{2} \) It should be noted that the transfer in this case shall be conducted from a swap agreement account under the name of the fund manager, or a person acting on behalf of the fund manager (registered as an ultimate beneficiary) to the QFI account (the actual ultimate beneficiary).

اليملكه العربيه السعوديه
هينه السوقي الحاليه
Capital Market Authority
(254)
4) The transfer process shall be executed after ensuring that there are no obligations (including, but not limited to, pledges or seizures on the securities) or an on-going buy and sell orders on the securities in relation to the transfer request.
5) The fund manager shall submit a request to open swap agreements accounts at the Depository Center for the other actual ultimate beneficiaries who are investing through the fund manager's swap agreement account and have not opened a QFIs account, noting that the transfer will be conducted through executing buy and sell transactions as per the fees determined by Tadawul and approved by the Authority's board.
Part 2: Transferring securities from the fund manager's swap agreement account to the actual ultimate beneficiary's account to correct a violation of paragraph (10) of the article nine of the Rules for Foreign Investment in Securities:
A fund manager, violating paragraph (10) of the article nine of the Rules for Foreign Investment in Securities, who wishes to correct the violation in place and open independent accounts for each actual ultimate beneficiary without qualifying any of them as a QFI, shall follow the mechanism and costs prescribed in paragraph (B/5) of Part (1).
If you have any further clarification, please contact Investment product development department via FI-QFI@cma.org.sa or phone number (011-4906006)