SCA updates and releases the third edition of the UAE Financial Rules and Regulations study material to keep pace with the developments in the financial sector regulations and legislation

As part of the efforts of the Securities and Commodities Authority (SCA) to build the capacity of financial sector professionals, develop training solutions, and devise professional exams in line with industry needs and developments, the SCA’s Professional Training and Examinations Centre (PTEC), in cooperation with the Chartered Institute for Securities and Investment (CISI), released a third updated edition of the UAE Financial Rules and Regulations study material and exam in Arabic and English.

The new edition is intended to boost training outcomes and increase the number of objectives, from 80 to 154, to enhance the knowledge acquired and keep pace with the recent developments in legislation in force in the country, including but not limited to Decision No. (3/Chairman), which approves the corporate governance guide, and Decision No. (23/Chairman), which deals with crypto asset activities, both of which were issued in 2020.

The new edition of the study material includes eight chapters, all focusing on the financial rules in force in the country. The fifth chapter, for example, is dedicated to the rules and regulations related to combating money laundering, terrorism financing, and illegal organizations and represents around 80 percent of the study material, while the seventh and eighth chapters are dedicated to capital market legislation and commodity laws.

The updates to the UAE Financial Rules and Regulations exam, however, included doubling the number of questions, from 50 to 100, and increasing exam time to 120 minutes.

In collaboration with the CISI, the PTEC continues to work on updating the study materials to conform to the decisions the SCA issued or the legislation it amended to keep pace with the rapid developments in the securities sector.

The PTEC’s achievements until the third quarter

In cooperation with the Union of Arab Securities Authorities (UASA), the PTEC organized a series of workshops and training programs to meet the needs of the securities sector and contribute to enhancing the quality of the services offered, using remote working technologies and in accordance with the precautionary measures instituted.

As part of the SCA’s societal responsibilities and its keenness to enhance the capabilities and professional qualifications of industry professionals, the PTEC implemented 21 training programs since the beginning of this year with 903 trainees and participants, 91 of whom were from the SCA and 141 were joining as part of a program to train and qualify Emirati college graduates, thus bringing the number of participants in the training programs to 333 by the third quarter of 2021.

It is notable that the PTEC is the first of its kind in the region to train and qualify brokers and financial industry professionals. It has become an integrated educational and qualification system that helps to enhance the performance of professionals in the investment sector, address the challenges and needs of the labor market, train and qualify Emirati cadres, and keep up with the latest developments in the financial services industry, thus serving the interest of participants and investors in particular and the national economy in general.

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