FINANCIAL NEWS

UAE, Turkey regulators sign joint listing MoU

14 Oct 2010

(MENAFN) The UAE’s Securities and Commodities Authority, or SCA, has signed a Memorandum of Understanding (MoU) with the Capital Markets Board of Turkey (CMB) that would lay the foundation for joint listing in the future and greater cooperation between the two corporate regulators and stock exchanges, Gulf News reported.

The MoU, which is a comprehensive document, covers enforcement of rules and regulations, and matters relating to stock market operations including transactions and settlements of deals.

In order to build a framework for sound regulatory work in the securities industry, the CMB, upon the SCA�s request, shall provide training and technical assistance or vice versa.

Commenting on the development, Al-Turifi said, the SCA seeks to achieve cooperation in the areas of training, sharing of experience and information related to supervision of securities markets and their listed companies and brokers.

He pointed out that the agreement aims at providing better protection for investors and ensuring more efficient securities markets by putting in place a sound framework which will promote joint cooperation.

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