The board of the Securities and Commodities Authority (SCA) held its 5th meeting, chaired by H.E. Eng. Sultan bin Saeed Al Mansoori, Minister of Economy and Board Chairman, at SCA’s Dubai branch. The meeting discussed a number of initiatives that aim at developing securities-related financial services and bringing them into line with the best international practices and standards. The meeting also addressed a number of other important issues relating to the securities sector.
As part of the continuing efforts to monitor the conditions of locally listed public joint-stock companies to ensure their financial stability and to implement Federal Law No. (2) of 2015 on Commercial Companies, the board reviewed a financial report of local listed public joint-stock companies and the sectors at the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) for the 2018 second-quarter financial statements. It also reviewed the latest developments in the securities sector and discussed some recommendations and projects that aim to improve UAE-based capital markets.