At A Meeting Chaired By H.E. Sultan Al Mansoori The UAE's Securities And Commodities Authority Board Approves Regulations For Central Clearing Houses

• The regulations address separating clearing and settlement functions, transferring securities ownership, and depositories.
• The regulations permit the incorporation of companies independent from securities exchanges to handle clearing transactions under a license from SCA.

The board of the Securities and Commodities Authority (SCA) approved draft regulations for central clearing houses under which clearing transactions are no longer executed on securities exchanges. The regulations also regulate clearing transactions and redistribute the tasks carried out on exchanges.

The board also reviewed a report about a recent workshop held to address the strategic performance indicators for 2017-2021, corporate happiness, and innovation in government institutions.

The board held its 11^th meeting in Abu Dhabi under the chairmanship of H.E. Eng. Sultan bin Saeed Al Mansoori, Minister of Economy and Board Chairman. Present at the meeting were H.E. Mohammed bin Ali bin Zayed Al Falasi (Deputy Chairman), H.E. Humaid Ali bin Butti Al Muhairi, H.E. Abdulla Khalifa Ahmed Al Suwaidi, H.E. Hilal Khalfan bin Dhaher Al Muhairi, and H.E. Al Yazia Ali Saleh Al Kuwaiti, as well as H.E. Dr. Obaid Saif Al Zaabi, Acting CEO. Also present was H.E. Dr. Maryam Al Suwaidi, Deputy CEO for Licensing, Supervision, and Enforcement (rapporteur).