التزام الشركات السعودية بتطبيق مبدأ الشفافية و الإفصاح في أسواق المال : دراسة مقارنة بين الأنظمة السعودية و الأمريكية

Abstract EN

Companies obligation of achieving the transparency and disclosure principle in the money markets in general - as one of the corporate governance principles - is a crucial and an essential obligation that is required for achieving equality between all dealers in the money markets and should be adopted by markets censorship authorities.

In the Kingdom of Saudi Arabia, the money market authority and market management institution supervise and watch over the obligation of companies achieving the transparency and disclosure principle, for the sake of arriving at market efficiency.

Also, in the United States of America, the securities and exchange commission (SEC) watches over the obligation of companies achieving the transparency and disclosure principle.

Furthermore, by comparing between the requirements of applying the transparency and disclosure principle by Saudi companies registered in the Saudi money market and those companies registered in the U.S.

money markets, it is found that the requirements of disclosure in the U.S.

markets are more than the requirements of disclosure in the Saudi market.

However, the requirements of disclosure that should be fulfilled by the U.S.

companies registered in the U.S.

markets are less than the requirements of disclosure that should be fulfilled by Saudi companies.

To conclude, the Saudi companies that wish to trade securities in one of the U.S.

money markets should comply with requirements of disclosure imposed by the securities and exchange commission (SEC).

Even these requirements are more than and stricter than those requirements imposed in the Saudi market.