On Wednesday, the Capital Market Authority (CMA) confirmed amendments to its regulations announced last month, allowing Qualified Foreign Financial Institutions (QFIs) to invest in debt instruments as it changed references to "shares" in the rules into "securities". The CMA is seeking public comment during a 30-day period from June 20, and reforms will be implemented by mid-2017. Last month, Riyadh announced steps including the abolition or easing of ceilings on foreign buying of stocks and a reduction in the minimum amount of assets which institutions must have under management. The moves come after opening the equity market to direct investment by foreign institutions in June 2015. (Reuters)