The Securities and Commodities Authority (SCA) has sent out circular to all brokerage firms operating in the country inviting their contributions and opinion on the amendments to be made on SCA Decree No. (1) of 2000 concerning regulation for brokers.
The SCA, in collaboration with the local markets, has finished preparing the draft regulation. The amendment is part of the SCA’s strategy of sustainable development of and updating its regulations to match with best international practices and latest developments in local financial markets.
The invitation is within the framework of its policy of involving all parties engaged in the financial market industry and its strategic partners in the developing and updating of market regulations. The SCA urged all concerned and interested bodies to express their views and make input ( as per the guidelines made available on SCA website: www.sca.gov.ae) for their feedbacks to be taken into consideration in the preparing of the draft regulation.