Tadawul urges portfolio managers to disclose trading activity

The Saudi Stock Exchange (Tadawul) has amended its disclosure requirements for discretionary portfolios managed by "authorized persons," urging them to disclose their trading activity, in a bid to boost transparency.

The authorized persons are a category of investors, who hold license to manage investments on behalf of a third party on Tadawul.

Following the amendment, their trading activity shall be disclosed in the same manner as major shareholders, who own five percent or above in listed companies announce changes in their shareholdings.