Article | March 17, 2026
Arnold Y. Castillo writes in Latin Business Daily on the growing impact of executive scandals and reputational risk in Latin America’s high-exposure environment.
Ralph Stobwasser, Managing Director, comments for Thomson Reuters Regulatory Intelligence on the decision by Saudi Arabia’s Capital Market Authority to abolish Qualified Foreign Investor restrictions and swap-based access frameworks. The changes open the Tadawul to all categories of foreign investors effective February 1, 2026.
“These changes improve accountability in a very practical sense; a larger number of foreign investors increases the demand for timely disclosures, verifiable numbers and consistent governance practices.”
The article reports that the CMA implemented the changes as part of a phased liberalization process, replacing the QFI and swap-based regimes with a unified framework for direct foreign participation. Existing foreign ownership limits remain in place, with market access continuing through licensed Saudi intermediaries. The changes expand the investor pool and increase diversity in foreign ownership, while supporting AML and KYC controls, regulatory oversight, and increased market scrutiny as foreign participation grows.
Stobwasser said, “These changes improve accountability in a very practical sense; a larger number of foreign investors increases the demand for timely disclosures, verifiable numbers and consistent governance practices.”
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