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Settlement of securities trading disputes

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For inquiries call us at 800 SCAUAE (722823)
Service Code 370.07.002.000
Classification G2B & G2C
Sub Service Type Variation Service
Service Type Seizural
Priority Service Yes
Working Hours
7:30 AM - 2:30 PM
Sunday - Thursday

Service Description

Settlement of grievances related to capital markets transactions filed to Securities and Commodities Authority (SCA) against the decisions issued concerning the following: • Complaints related to disputes arising between investors and entities falling under SCA’s supervision and oversight. • The violations issued against entities falling under SCA’s supervision and oversight, its employees, investors, or the listed companies. • The SCA’s decisions concerning financial activities and services falling under SCA’s oversight. • The decisions issued by markets concerning the violation committed by the entities falling under the SCA’s supervision and oversight, their employers, or the investors.
  • Sector Execution Department
  • Department/ Section Execution Department
  • Service Audience Dealers in securities and commodities markets licensed in the state.
  • Service Duration

    Ranging from two weeks to 12 weeks. It may be shorter or longer.

Service steps & procedures

Filing the SCA the grievance of decisions issued against the grievant though the system in accordance with the following steps:

Number of steps = 3

Step 1: Filling the data

Step 2: Attaching the required documents

Step 3: Sending the request

Requirements & Documents

The grievance application shall be filed using the form prepared for this purpose, along with all required data and documents within (30) days from the date of notifying those concerned with the decision. If the last day is a holiday, the term shall be extended to the following working day; otherwise the grievance shall be null and void. Moreover, the grievant shall have an existing and legitimate interest in the grievance. Grievances against (directions – warnings –referrals to judicial authorities). shall not be accepted.

Required documents:

 

1- Filling the approved form of grievance application.

2- Copy of the grieved decision in the matters mentioned in the service description.

3- Data of the parties to the grievance and their contact data in addition to the grievant identity.

 

4- Copy of the complaint previously filed to SCA or the relevant market (if the grieved decision is related to a complaint).

5- Copy of the proxy if the grievance is filed by the grievant agent, provided that the original copy of the proxy shall be submitted for being reviewed.

6- All supporting documents of the grievance.

7- Any other documents that the committee deems necessary for determination of the grievance subject, provided that they shall be submitted during the term specified by the committee.

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