Awards:

Winning the following awards as part of the Sheikh Khalifa Government Excellence Program:

1. Leading Federal Entity.
2. Distinguished Federal Entity in Performance Management as part of the Emirates Award for Human Resources in the Federal Government, first cycle.

Achievements:

1. Issuing the first license for financial consulting activity.
2. Issuing 4 licenses for custodians.
3. Licensing 4 companies to act as registrars for private joint-stock companies.
4. Starting to license margin trading and proprietary trading.
5. SCA was awarded the ISO 9001:2008.
6. Starting to approve applications for mutual fund incorporation in coordination with the UAE Central Bank after the competence over licensing and legislation in this regard was transferred to SCA.
7. SCA celebrated the 10th anniversary of its establishment by organizing a forum titled “Supervisory Authorities and Financial Markets” and issuing a stamp and commemorative coin on this occasion.

Achievements:

1. Issuing 5 new regulations concerning market making, liquidity provision, securities lending and borrowing, short selling of securities, and investment funds.
2. Signing a memorandum of understanding with IOSCO.
3. SCA’s CEO was awarded Honorary Fellowship of the Chartered Institute for Securities & Investment (CISI).
4. The IT Department obtained ISO 27001:2005 for information security.
5. Opening the Virtual Financial Market Training Hall at Sharjah University. His Highness Sheikh Dr. Sultan Al Qasimi, Supreme Council Member and Ruler of Sharjah, has inaugurated the hall.
6. Inaugurating the new headquarter of SCA’s branch in Dubai. The new headquarter includes: SCA’s different departments, the General Secretariat of the Union of Arab Securities Authorities (UASA), the Professional Training and Examinations Centre (PTEC), and the Chartered Institute for Securities & Investment (CISI).

Awards:

Leading Federal Entity:

1. Technical Team/Distinguished Team.
2. The Prime Minister’s Medal for the Supervisory Employee as part of the Sheikh Khalifa Government Excellence Program.

Achievements:

1. Issuing 5 new regulations concerning market making, liquidity provision, securities lending and borrowing, short selling of securities, and investment funds.
2. Signing a memorandum of understanding with IOSCO.
3. SCA’s CEO was awarded Honorary Fellowship of the Chartered Institute for Securities & Investment (CISI).
4. The IT Department obtained ISO 27001:2005 for information security.
5. Opening the Virtual Financial Market Training Hall at Sharjah University. His Highness Sheikh Dr. Sultan Al Qasimi, Supreme Council Member and Ruler of Sharjah, has inaugurated the hall.
6. Inaugurating the new headquarter of SCA’s branch in Dubai. The new headquarter includes: SCA’s different departments, the General Secretariat of the Union of Arab Securities Authorities (UASA), the Professional Training and Examinations Centre (PTEC), and the Chartered Institute for Securities & Investment (CISI).

Awards:

SCA received the Best Workplace in the Public Sector Award as part of the 2015 MENA HR Excellence Awards.

Achievements:

1. Successfully completing the upgrade of the UAE financial markets to emerging market status on the MSCI and the S&P Dow Jones indices.
2. Signing a multilateral memorandum of understanding on consultation, cooperation and exchange of information on the supervision of alternative investment funds with the European Securities and Markets Authority (ESMA).
3. In coordination with the Emirates Competitiveness Council, SCA took measures that helped to raise the country’s ranking by 39 ranks in the Investor Protection Index within the World Bank’s Report of 2014.
4. Qualifying 107 financial services brokers and staff after passing the PTEC’s examinations.
5. Launching two qualifying programs: the Certified Compliance Officer Certificate-Advanced Level and the Certified Technical Analyst Certificate-First Level.

Awards:

The Human Resources and Financial Affairs Department received the following MENA HR Excellence awards:

1. Distinction in Healthy Workplace Strategies-Corporate Wellness.
2. HR Professional of the Year in the Public Sector.
3. The UAE securities markets were reclassified from Frontier to Emerging Market Status by MSCI.

Achievements:

1. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai launched the second market in the UAE financial markets and opened trading on it.
2. The UAE was ranked first for “Effective Corporate Boards” index according to the International Competitiveness Yearbook released by the Swiss-based International Institute for Management Development (IMD) in May 2014. SCA focused on this in its aim to raise the country’s ranking to the first rank in global competitiveness indexes.
3. The UAE topped Arab and Middle Eastern countries on the investor protection index, and leapt 59 ranks internationally, making the list of the ten most improved economies according to the World Bank’s assessment.
4. Licensing a number of financial services including market making, margin trading, DMA, and proprietary trading.

Awards:

1. The Emirates Award for Human Resources in the Federal Government (Overall Performance Award and the Level of Service Award).
2. The Emirates Award for Human Resources in the Federal Government (The Promising Executive Award granted to Mustafa Al Marzouqi, Human Resources Department Director).
3. Best Workplace in the Public Sector as part of the 2015 MENA HR Excellence Awards.
4. H.E. Mohammed Al Hadari, Deputy CEO for Supporting Services, received the 2015 Champion of Change Award presented by the MENA HR Excellence Awards.
5. The HR Contribution to Organization Award by the Asia HRD Awards.
6. The e-Government Excellence Award by the Pan Arab Excellence Awards Academy in these two categories:
   • Overall Level of Performance (Diamond Award).
   • Best Smart Applications (Official and Government Entities at the UAE Level).

Achievements:

1. Issuing 6 new regulations, including regulations concerning clearing in commodities markets and registering auditors of public joint-stock companies and investment funds.
2. Completing the plan to provide services via smart phones, and the development of electronic and smart services for customers.
3. Issuing the first approval for lending and borrowing agents.
4. Signing a (multilateral) memorandum of understanding with the authorities regulating financial markets in the GCC states.

Awards:

The Mohammed bin Rashid Award for Excellence in Government Performance as part of the Sheikh Khalifa Government Excellence Program, the most prestigious award for corporate excellence across federal government entities, fourth cycle 2016.

Main Category

1. Leading Federal Entity (entities with less than 500 employees).

Categories at the Level of Main Criteria

1. Best Entity in Managerial and Financial Governance.

Main Category

Distinguished Entity Award in these sub-categories: Human Resources, Motivation, Empowerment, and Level of Service.

1. Outstanding Leader in Human Resources Award.
2. 4th Middle East Financial Markets Excellence Award

   received by H.E. Dr. Obaid Al Zaabi, CEO of SCA

3. Distinguished Chief Executive Officer in the Financial Sector

   received by H.E. Dr. Obaid Al Zaabi, CEO of SCA.

Achievements:

1. SCA issued an integrated package of 13 regulations and decisions, including those concerning standards of corporate discipline and governance of public joint-stock companies, investment funds, issuing and offering shares of public joint-stock companies, central clearing companies, controls for publishing names of violators, and fit and proper controls for licensed companies and accredited individuals in the securities industry.
2. SCA has taken several initiatives towards developing markets and converting them into a self-regulated financial markets. It transferred competence over a number of powers and activities to the markets, including those related to market making, securities lending and borrowing, margin trading, proprietary trading, short selling, online trading, direct market access, and XBRL disclosures.
3. The transition from a vertical market (where trading, clearing, and settlement is done in one system) to a horizontal market that is based on complete separation between these three. This way markets become independent and self-regulated as there is a trading market, a central clearing company, and a depository and settlement company.
4. Contributing to raise the country’s ranking on the Minority Investor Protection Index in the World Bank’s report by 39 ranks and leaping to the 9th rank globally.
5. Launching the electronic voting mechanism for shareholders on the resolutions of the general assembly of public joint-stock companies listed on the local markets in the UAE.
6. The IOSCO board approved SCA’s proposal to use Arabic as an official language in across the organization.
7. Launching the Continuous Professional Development (CPD) Program and supervising the approval of training hours for individuals working in the financial markets sector.
8. SCA became a member of IOSCO’s Steering Committee on the MMoU Monitoring Group.

Awards:

1. Best Initiative for Supporting Gender Balance. Initiative for Women’s Representation on Corporate Boards
2. SCA has become a member of the MMoU Monitoring Group Steering Committee, represented by IOSCO's AMERC.

Achievements:

1. SCA reinforced the legislative infrastructure of financial markets by issuing 18 new regulations and decisions, including the rules of acquisition and merger of public joint-stock companies and the promotion and introduction activities.
2. SCA launched the Islamic Capital Market Strategy, the first of its kind regionally and internationally.
3. SCA launched a plan for applying blockchain and fintech technologies in the field of financial markets in line with the Fourth Industrial Revolution.
4. SCA implemented a project to foresee the future of SCA and the capital markets in the country until 2050 and the required development of proactive strategies based on a number of scenarios.
5. SCA completed its new organizational structure to improve performance and ensure focus on SCA’s main objectives and operations.
6. SCA launched the National Project for Investment Awareness and Financial Inclusion in Financial Markets.
7. SCA won the bid to host the 45th Annual Conference of IOSCO in 2020 in Dubai.

Awards:

1. The Emirates Award for Human Resources in the Federal Government (Customer Pillar), fourth cycle.
2. SCA's CEO, H.E. Dr. Obaid Saif Al Zaabi, was named GEMC's Chair, IOSCO's largest committee, for the term 2018-2020. Accordingly, SCA has become Vice Chair of the IOSCO board

Achievements:

1. SCA issued 25 new regulations and decisions, including those concerning the central depository activity, issuing and offering Islamic securities, approving the fintech regulatory framework (Fintech Regulatory Sandbox Guidelines), regulating derivative contracts, and licensing credit rating agencies.
2. For the first time, SCA won a seat in the IOSCO Board.
3. For the first time in the Arab region, Dr. Obaid Al Zaabi was named Vice Chairman of the IOSCO Board.
4. Dr. Al Zaabi assumed the position of chairman of IOSCO’s largest Committee, the Growth and Emerging Markets Committee (GEMC).
5. Dr. Obaid Al Zaabi was officially elected as Co-Chair of the MENA-OECD Working Group on Corporate Governance.
6. SCA signed a regulatory agreement (Passporting) with the Abu Dhabi Global Market (ADGM) and the Dubai Financial Services Authority (DFSA) to facilitate the process of licensing investment funds in each of them and promote them across the country.

SCA’s Key Achievements in 2019:

1. SCA reinforced the financial markets legislative framework through a package of decisions and regulations concerning:
   • The activity general clearing members are engaged in.
   • Controls for real estate funds (and associated amendments).
   • Valuation of mutual fund in-kind shares.
   • Adequacy standards for investment managers and management companies.
   • Procedures specific to listed companies whose accumulated losses amount to 20% or more of the capital.
   • Definition of material information (and associated amendments).
   • Definition of eligible investors.
   • Financial reports of SCA-licensed activities.
   • Procedures related to anti-money laundering, terrorism financing, and illegal organizations.
2. SCA implemented a system to identify losing companies on trading indices according to a mechanism set out in a SCA decision once the accumulated losses amount to 20% or more of the capital. The decision included a plan to handle accumulated losses and outlined the associated procedures.
3. SCA licensed the first independent clearing company and another central securities depository company in the Dubai Financial Market (DFM) as part of its efforts to transition the country’s markets from vertical to horizontal according to the self-regulatory organization (SRO) model.
4. The merger of the Abu Dhabi Commercial Bank (ADCB) and the Union National Bank (UNB) was fully completed and followed by the acquisition of Al Hilal Bank.
5. SCA, the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), and the Dubai Financial Services Authority (DFSA) of the Dubai International Financial Centre (DIFC) signed and implemented a passporting agreement. The signing of the agreement led to the listing of four mutual funds on the DIFC and their subsequent listing on SCA’s passporting register. The agreement facilitates the promotion of funds licensed by each authority in the jurisdiction of the other authority.
6. The first local mutual fund, an open-ended money market fund open for public subscription, was incorporated under the provisions of Decision No. (9/Chairman) of 2016 on mutual fund regulations.
7. SCA registered 47 new foreign mutual funds and issued 276 approvals for fund promotion in the country.
8. SCA approved the registration of five government companies, namely Abu Dhabi Marine Services, the Emirates Water and Electricity Company (EWEC), Modon Properties (Modon), Etihad Credit Insurance, and Abu Dhabi Developmental Holding Company.
9. SCA registered one foreign joint-stock company.
10. SCA issued its Sustainable Capital Markets Plan, which is premised on a financial regulatory framework developed to inform the conduct of financial industry partners and stakeholders, thus achieving the desired outcomes and encouraging sustainable and green investment in an effort to provide new effective means to secure funding for sustainable projects.
11. SCA developed a roadmap for the launch of its financial inclusion strategy in the country’s financial markets. The strategy is expected to facilitate the access of different social categories (including women, young people, SME and micro-enterprise owners, and low-income groups) to financial services and to help them choose the financial products and instruments that meet their needs. This was achieved through awareness-raising programs and the provision of financial information needed to deal with financial services providers.
12. SCA entered into several MoUs throughout the year, including an MoU with its Algerian counterpart, the Securities and Investments Organization and Monitoring Commission (COSOB), and another one with the Middle East Investor Relations Association (MEIRA).
13. SCA held a number of awareness-raising events, including a seminar on the role of investor relations in creating effective communication with investors, in addition to other activities held as part of the Governance Week and World Investor Week.
14. SCA launched the first phase of an e-system designed in collaboration with OpenText. The system provides customers with electronic access to SCA’s technical services, such as the licensing services provided to securities and service companies.
15. SCA completed the first phase of its Smart Advisor app, which uses artificial intelligence technologies to provide customers with answers to their regulatory questions.
16. SCA worked with the Ministry of Human Resources and Emiratization (MOHRE) to support the latter’s initiative to create 1000 job opportunities for UAE nationals within 100 days.
17. SCA was named Organization of the Year for Best Happiness Initiative by the GCC GOV HR Awards.

The key achievements of SCA in 2020:

• SCA issued the Chairman of SCA's Board of Directors' Decision No. (3/Chairman) of 2020 concerning Approval of Joint Stock Companies Governance Guide.
• SCA issued the Chairman of SCA's Board of Directors' Decision No. (23/ Chairman) of 2020 concerning Crypto Assets Activities Regulation.
• SCA issued the Chairman of SCA's Board of Directors' Decision No. (13/ Chairman) of 2020 concerning Procedures of Dealing with Listed Troubled Joint Stock Companies.
• SCA created the activities of Central Depository and Central Clearing of Securities, in line with the requirements of "IOSCO" and the international best practices, by shifting from the vertical model to the horizontal model in organizing market institutions.
• SCA was elected as the Chairman of the Growth and Emerging Markets Committee (GEMC), the largest and most important Committee of the International Organization of Securities Commissions (IOSCO), and as Vice- Chairman of IOSCO board, and it won a seat in the IOSCO Board for the second time in a row.
• SCA was elected as the Chairman of Union of Arab Securities Authorities, as well as the Committee of Heads of Financial Market Authorities (or their equivalent) in the GCC countries and the Ministerial Committee of the Chairmen of the Securities Authorities boards (or their equivalent) in the GCC countries.
• SCA dealt with repercussions of Covid 19 pandemic through a model plan that has achieved its objective, which is to ensure the continuity of the securities sector business without any interruption or delay, through package of measures and decisions taken by SCA to confront the repercussions of the pandemic.
• SCA completed the full electronic conversion project for licensing services to be a substitute for receiving and processing applications for licensing activities in the traditional way.
• SCA created a new division in the SCA's Control and Compliance Department, with a mandate to confront money laundering and terrorism financing.
• SCA adopted unified disclosure forms for companies listed in the state’s financial markets with the aim of unifying the disclosures issued by companies listed in each of the Dubai Financial Market and Abu Dhabi Securities Exchange and enhancing the competitiveness of financial markets. These forms have been published on the websites of both markets, knowing that the number of approved forms reached (22).
• SCA licensed Dubai Central Clearing and Depository (DCCD), a wholly owned subsidiary of the Dubai Gold and Commodities Exchange, as an accredited central clearing company in the United Arab Emirates, allowing an opportunity to provide clearing and risk management services to exchanges and financial market infrastructure providers.
• SCA won the award of "Outstanding Contributions in the Field of Inclusive Finance for 2020".
• SCA participated in the activities of "Global Investor Week 2020" organized by "IOSCO", and it included number of awareness activities, including a joint forum between the SCA, Financial Markets and other Regulatory Authorities in the State.
• SCA trained more than 701 participants in 21 training workshops organized by SCA's Professional Training and Examinations Center (PTEC) in cooperation with the Union of Arab Securities Authorities.
• SCA conducted more than 1500 tests during the year (2020) despite the suspension of the PTEC activities for more than three months due to the circumstances of the Covid 19 pandemic.
• SCA succeeded to become the first federal authority in the State to obtain two ISO standards:

1. Knowledge Management ISO 30401: 2018.
2. Sustainable Procurement ISO 20400: 2017.

• SCA was the first federal authority in the State to obtain the following two ISO standards:

1. Innovation Management ISO 56002: 2019.
2. Risk Management ISO 31000: 2018.

• SCA obtained Occupational Health and Safety Management System ISO 45001: 2018.