Capital Market Authority’s Response to the Global Financial Crisis

Capital Market Authority’s Response to the Global Financial Crisis

Description/Paper Instructions

Capital Market Authority’s Response to the Global Financial Crisis

The Global Financial Crisis of 2008-09 was a significant event that had a profound impact on the global financial system. In Saudi Arabia, the Capital Market Authority (CMA) played a crucial role in responding to the crisis and ensuring the stability of the country’s financial sector. This essay provides an overview of the CMA’s response to the crisis.

The CMA was established in 2003 to regulate and develop Saudi Arabia’s capital market. It has a wide range of responsibilities, including regulating and supervising the stock market, issuing regulations for financial institutions, and protecting the rights of investors. When the global financial crisis hit, the CMA took several measures to maintain the stability of the Saudi financial sector.

One of the first steps taken by the CMA was to establish a crisis management team to monitor the situation and develop a plan of action. The team worked closely with other government agencies and financial institutions to coordinate a response to the crisis. The CMA also issued a series of regulations to strengthen the resilience of the Saudi financial sector.

One of the key regulations introduced by the CMA was the Corporate Governance Regulations, which required companies to adopt best practices in corporate governance. The regulations also required companies to establish an audit committee and an internal audit function to ensure the integrity of financial reporting. These regulations were aimed at improving the transparency and accountability of companies, which would help to restore investor confidence.

The CMA also introduced regulations to improve the supervision of financial institutions. For example, it required banks and other financial institutions to maintain higher levels of capital and liquidity to protect against potential losses. The CMA also introduced regulations to ensure that financial institutions had adequate risk management systems in place and that they were properly supervised by the CMA.

Another important measure taken by the CMA was to strengthen the enforcement of regulations. It established a new department within the CMA to investigate and prosecute violations of regulations. The CMA also worked closely with other government agencies to ensure that violators of regulations were punished appropriately. This helped to deter misconduct and improve the overall integrity of the financial system.

In addition to these regulatory measures, the CMA also took steps to support the financial sector. It provided liquidity to the market through the Saudi Arabian Monetary Agency (SAMA), which injected funds into the banking system to support liquidity. The CMA also established a program to support small and medium-sized enterprises (SMEs), which are critical to the Saudi economy. The program provided financing and other support to SMEs to help them weather the crisis.

Overall, the CMA’s response to the global financial crisis was comprehensive and effective. Its regulatory measures helped to strengthen the resilience of the Saudi financial sector, while its support measures helped to maintain the stability of the sector. The crisis also highlighted the importance of effective regulation and supervision of the financial sector, which the CMA continues to prioritize.

In conclusion, the CMA’s response to the global financial crisis was a critical moment in its history. The crisis highlighted the importance of effective regulation and supervision of the financial sector, and the CMA responded by introducing a range of regulatory and support measures to maintain the stability of the Saudi financial sector. The lessons learned from the crisis have helped to inform the CMA’s ongoing efforts to promote a sound and stable financial system in Saudi Arabia.

Capital Market Authority’s Response to the Global Financial Crisis

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points:  Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points:  Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points:  References to scholarly sources are occasionally given; many statements seem unsubstantiated.  Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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