SCA's board holds a meeting chaired by H.E. Sultan Al Mansoori to discuss major developments in UAE-based financial markets
SCA honors two former board members in recognition of their significant contributions
As part of the efforts aimed at developing the supervisory regime and the financial activities and services and bringing them in line with the best international standards and practices, the board of the Securities and Commodities Authority (SCA) held its 19th meeting in Dubai, under the chairmanship of H.E. Eng. Sultan bin Saeed Al Mansoori, Minister of Economy and Board Chairman.
The board discussed a number of important, securities-related issues, including making amendments to some existing regulations, reviewing financial restructuring plans for some public companies, and renewing SCA's membership in XBRL International.
The board reviewed the results of a seminar organized under the title “The Current State of UAE Financial Markets" and attended by representatives of financial market actors. It also reviewed a report of key recommendations made at the seminar; the initiatives launched to develop the legislative system; the actions taken to upgrade the financial markets to developed market status and to promote the new financial services, thus contributing to increased market depth; and the efforts made towards developing the primary market and having new listings on the primary and second markets.
H.E. Eng. Sultan Al Mansoori honored Deputy Board Chairman Mohammed Ali bin Zayed Al Falasi and Board Member Hilal Khalfan bin Dhaher Al Muhairi—upon the expiry of their term of office—in recognition of their significant contributions during their tenure on the board.