UAE Securities And Commodities Authority Takes Part In A Meeting By The Committee Of Heads Of The GCC Capital Market Authorities

The Securities and Commodities Authority (SCA) took part in the 26th meeting of the Committee of Heads of the GCC Capital Market Authorities (or their equivalents) established by the Ministerial Committee of Chairmen of the GCC Capital Market Regulators. It was represented in the meeting—held in Oman’s Capital, Muscat—by a delegation led by its CEO H.E. Dr. Maryam Butti Al Suwaidi.

Participants at the meeting discussed several matters, most notably the draft regulations governing the inter-registration of investment funds. They were briefed on the decisions issued by the Ministerial Committee of Chairmen of the GCC Capital Market Regulators at its tenth meeting (visual communication, November 2022).

The committee was briefed on the findings of the GCC Capital Market Integration Strategy Working Group in relation to the Know Your Customer (KYC) form implementation plan and timeline. The Saudi Capital Market Authority presented the committee with a brief overview of the GCC Smart Investor Award ceremony.

The committee adopted a mechanism proposed by the Communication and Investor Awareness Working Group of the GCC capital market regulatory authorities to sustain the Gulf Investment Awareness Program, Mulem. It also reviewed a report prepared by the GCC Statistical Center discussing the GCC securities market performance and developments in 2022.