More global asset managers get their Saudi licence, New rules for AVs

New investment players in Saudi

Brookfield and Neuberger enter the Saudi securities market: The Capital Market Authority gave the green light to Brookfield’s local unit, Brookfield Arabia for Business Services, and Neuberger Berman’s local arm, Neuberger Berman Saudi Investment, to manage investments and run funds in the Kingdom, it said in two separate announcements. The approvals mean both firms can now kick off their licensed operations on the ground.

The Saudi market gets busier: Brookfield and Neuberger Berman join a growing roster of international asset managers building onshore investment operations in Saudi Arabia, including BlackRock, Franklin Templeton, Ashmore Group, and Investcorp.

Updated road rules for AVs

The Interior Ministry introduced new traffic regulations for self-driving vehicles, Saudi Gazette reports, citing amendments published in Umm Al Qura. Under the new rules, owners of fully autonomous vehicles (AVs) will be legally accountable for their AV’s traffic violations and accidents, while drivers remain responsible in vehicles that require human oversight.

Exemptions and registration rules: The regulations also require approval from the relevant authority before a self-driving vehicle can be deregistered, and they exempt fully autonomous vehicles from standard driver authorization requirements.

Why it matters: The rules shift responsibility before the law to AV owners, including companies, making them liable for accidents and violations linked to system errors. The move comes as the Kingdom moves forward with several autonomous mobility projects, including the WeRide-Uber robotaxi pilot, planned autonomous trucking initiatives, and a Humain-Nvidia partnership focused on autonomous transport ecosystem development.