The Capital Market Authority (CMA) is looking to allow financial institutions to offer automated investment advice in a significant move towards modernising the market and providing more options to investors.

The market regulator said on Tuesday that it is seeking public feedback on a new draft of rules that will enable licensed entities to provide robo-advisory services.

The services will have no or limited human intervention, and will be able to manage investments based on pre-defined strategies, according to the CMA.

This will be made possible through the use of algorithms and modern technology.

The initiative is in line with efforts to support financial technology (fintech), provide innovative and efficient solutions for investors, as well as expand the range of financial services in the kingdom.

The consultation period will run for 30 calendar days until September 24, 2025.

(Writing by Cleofe Maceda; editing by Seban Scaria seban.scaria@lseg.com)