13 Sep 2010
(MENAFN) The UAE’s Securities and Commodities Authority (SCA) said that its board has amended regulations, including the merger of brokerage companies, as the industry struggles with firm closures amid slumping market volumes, Reuters reported.
Slumping market turnover is forcing some equity brokerages in the UAE to cut staff or suspend operations as firms struggle to cope with costs and low revenue.
The resolution shall not take effect until after getting approval from the SCA and other concerned authorities.
The board also approved lowering the minimum number of broker representatives from four to two, according to the statement. Brokers also need to contract a body licensed to practice securities custody activities in the country, when trading in their own accounts, the new amendment stated.
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more