{"version":"1","article":{"id":"saudi-cma-earnings-calls-draft-2026","slug":"saudi-cma-earnings-calls-draft-2026","language":"en","url":"https://haberpaper.com/en/news/saudi-cma-earnings-calls-draft-2026","api_url":"https://haberpaper.com/api/v1/articles/saudi-cma-earnings-calls-draft-2026?lang=en","title":"CMA proposes two annual earnings calls for Main Market issuers","summary":"A 29 September draft from Saudi Arabia’s market regulator would set calls after results announcements and require publication of recordings.","category":"finance","region":"world","topics":[],"published_at":"2026-10-08T18:08:38+03:00","modified_at":"2026-10-08T18:08:38+03:00","publication_basis":"publication-record","event_period":"2026-09-29","event_period_basis":"event-or-reference-period","sources":[{"name":"Capital Market Authority","url":"https://cma.gov.sa/en/MediaCenter/NEWS/Pages/CMA_N_4129.aspx","publishedAt":"2026-09-29","checkedAt":"2026-10-08"}],"translations":[{"language":"tr","url":"https://haberpaper.com/tr/news/saudi-cma-earnings-calls-draft-2026","api_url":"https://haberpaper.com/api/v1/articles/saudi-cma-earnings-calls-draft-2026?lang=tr"},{"language":"en","url":"https://haberpaper.com/en/news/saudi-cma-earnings-calls-draft-2026","api_url":"https://haberpaper.com/api/v1/articles/saudi-cma-earnings-calls-draft-2026?lang=en"},{"language":"ar","url":"https://haberpaper.com/ar/news/saudi-cma-earnings-calls-draft-2026","api_url":"https://haberpaper.com/api/v1/articles/saudi-cma-earnings-calls-draft-2026?lang=ar"},{"language":"fr","url":"https://haberpaper.com/fr/news/saudi-cma-earnings-calls-draft-2026","api_url":"https://haberpaper.com/api/v1/articles/saudi-cma-earnings-calls-draft-2026?lang=fr"},{"language":"es","url":"https://haberpaper.com/es/news/saudi-cma-earnings-calls-draft-2026","api_url":"https://haberpaper.com/api/v1/articles/saudi-cma-earnings-calls-draft-2026?lang=es"}],"data_types":["table"],"data":{"version":1,"blocks":[{"id":"saudi-cma-earnings-calls-draft-2026","type":"table","title":{"tr":"Taslak kazanç görüşmesi şartları","en":"Draft earnings-call requirements","ar":"متطلبات مكالمات الأرباح المقترحة","fr":"Projet d’exigences sur les appels de résultats","es":"Proyecto de requisitos para llamadas de resultados"},"description":{"tr":"CMA’nın 29 Eylül danışma taslağında önerilen takvim ve erişim şartları.","en":"Proposed schedule and access terms in CMA consultation draft of 29 September.","ar":"الجدول وشروط الوصول المقترحة في مشروع الهيئة المؤرخ 29 سبتمبر.","fr":"Calendrier et accès proposés dans le projet de consultation de la CMA du 29 septembre.","es":"Calendario y acceso propuestos en el borrador de consulta de la CMA del 29 de septiembre."},"methodology":{"tr":"Taslak şartlar; nihai kabulden önce görüşe açık.","en":"Draft terms; open to comment before final adoption.","ar":"أحكام مقترحة؛ مطروحة للتعليق قبل اعتمادها النهائي.","fr":"Projet de dispositions ; commentaires ouverts avant adoption définitive.","es":"Condiciones propuestas; abiertas a comentarios antes de su aprobación final."},"sourceUrls":["https://cma.gov.sa/en/MediaCenter/NEWS/Pages/CMA_N_4129.aspx"],"updatedAt":"2026-10-08T02:14:20+03:00","columns":[{"key":"requirement","label":{"tr":"Şart","en":"Requirement","ar":"المتطلب","fr":"Exigence","es":"Requisito"},"type":"text","language":"en"},{"key":"draft_term","label":{"tr":"Taslak koşul","en":"Draft term","ar":"الشرط المقترح","fr":"Disposition proposée","es":"Condición propuesta"},"type":"text","language":"en"}],"rows":[{"requirement":"Frequency","draft_term":"Two calls per year for every Main Market issuer"},{"requirement":"Timing","draft_term":"Within five business days of results announcement; after market close"},{"requirement":"Public record","draft_term":"Publish presentation and call recording on company website"},{"requirement":"Consultation","draft_term":"Comments close 29 October 2026"}]}]},"data_compilations":[{"id":"saudi-cma-earnings-calls-draft-2026","creator":{"@type":"Organization","@id":"https://haberpaper.com/#organization","name":"Haber Paper","url":"https://haberpaper.com/"},"license":{"@type":"CreativeWork","@id":"https://haberpaper.com/en/data-terms/v1#license","name":"Haber Paper Original Data Compilation License 1.0","url":"https://haberpaper.com/en/data-terms/v1"},"rights_scope":"Haber Paper original data arrangement, labels and methodology notes only; underlying source rights and permissions remain separate.","source_license_url":null}],"data_downloads":[{"id":"saudi-cma-earnings-calls-draft-2026","formats":{"json":"https://haberpaper.com/api/v1/articles/saudi-cma-earnings-calls-draft-2026/data/saudi-cma-earnings-calls-draft-2026?lang=en&format=json","csv":"https://haberpaper.com/api/v1/articles/saudi-cma-earnings-calls-draft-2026/data/saudi-cma-earnings-calls-draft-2026?lang=en&format=csv"}}],"content":{"paragraphs":["Saudi Arabia’s Capital Market Authority (CMA) opened a public consultation on 29 September 2026 for draft provisions governing earnings calls by Main Market listed companies. The 30-day comment period is due to close on 29 October. The Authority plans for final provisions to take effect with the announcement of annual financial results for fiscal year 2026. This remains a proposal, not a current obligation. The draft seeks to regulate periodic communication between companies, investors and analysts about financial results and company performance.","The draft would require every Main Market listed company to hold two earnings calls each year. Each call would take place within five business days after the relevant financial results announcement and after the market closes. A company would announce the call on its website and explain how it would be conducted and how participants could register. The agenda would cover financial results, guidance on future performance, challenges and opportunities, with participants’ questions answered. The proposal therefore sets out timing and access arrangements as well as a requirement to hold a conference.","The draft also requires the presentation and a recording of each call to be published promptly on the company website. If adopted, that could provide an accessible record for investors unable to join live. It would not guarantee that company forecasts prove accurate: management guidance remains forward-looking and uncertain. The effect on equal access would depend on consistent publication of the call materials and on reducing practical barriers to reaching them.","Economically, regular calls could narrow the time between corporate results announcements and investor questions, while broadening access to public information. But the number of calls alone does not show that disclosures are informative or that analysts and individual investors benefit equally. The final text will matter for scope, access, record retention and presentation of forward-looking statements. CMA says it will consider feedback before approving final provisions. As of 8 October, two calls a year, the five-business-day window and publication of recordings are features of a consultation draft, not an operative rule.","Making calls accessible involves more than uploading a recording: investors must be able to find it and review its content later. Different disclosure practices could still make comparisons difficult even if companies comply with the formal requirement."],"key_points":[],"sections":[]},"text":"A 29 September draft from Saudi Arabia’s market regulator would set calls after results announcements and require publication of recordings.\n\nSaudi Arabia’s Capital Market Authority (CMA) opened a public consultation on 29 September 2026 for draft provisions governing earnings calls by Main Market listed companies. The 30-day comment period is due to close on 29 October. The Authority plans for final provisions to take effect with the announcement of annual financial results for fiscal year 2026. This remains a proposal, not a current obligation. The draft seeks to regulate periodic communication between companies, investors and analysts about financial results and company performance.\n\nThe draft would require every Main Market listed company to hold two earnings calls each year. Each call would take place within five business days after the relevant financial results announcement and after the market closes. A company would announce the call on its website and explain how it would be conducted and how participants could register. The agenda would cover financial results, guidance on future performance, challenges and opportunities, with participants’ questions answered. The proposal therefore sets out timing and access arrangements as well as a requirement to hold a conference.\n\nThe draft also requires the presentation and a recording of each call to be published promptly on the company website. If adopted, that could provide an accessible record for investors unable to join live. It would not guarantee that company forecasts prove accurate: management guidance remains forward-looking and uncertain. The effect on equal access would depend on consistent publication of the call materials and on reducing practical barriers to reaching them.\n\nEconomically, regular calls could narrow the time between corporate results announcements and investor questions, while broadening access to public information. But the number of calls alone does not show that disclosures are informative or that analysts and individual investors benefit equally. The final text will matter for scope, access, record retention and presentation of forward-looking statements. CMA says it will consider feedback before approving final provisions. As of 8 October, two calls a year, the five-business-day window and publication of recordings are features of a consultation draft, not an operative rule.\n\nMaking calls accessible involves more than uploading a recording: investors must be able to find it and review its content later. Different disclosure practices could still make comparisons difficult even if companies comply with the formal requirement.","corrections":[],"editorial_illustration":{"kind":"symbolic-editorial-illustration","documentary":false,"scope":"section","asset_id":"finance","url":"https://haberpaper.com/assets/illustrations/finance-1536.webp","width":1536,"height":1024,"alt":"Symbolic financial system with a vault door, columns and unmarked coins.","language":"en"},"section_illustration":{"kind":"symbolic-editorial-illustration","documentary":false,"scope":"section","asset_id":"finance","url":"https://haberpaper.com/assets/illustrations/finance-1536.webp","width":1536,"height":1024,"alt":"Symbolic financial system with a vault door, columns and unmarked coins.","language":"en"}}}