UAE’s Securities and Commodities Authority Creates A Committee To Deal With Grievances Related To Financial Market Transactions - It Improved Its Regulatory Procedures To Deal With Irregularities And Complaints

As part of its efforts to constantly improve its procedures and promote transparency, the Securities and Commodities Authority (SCA) has enhanced its internal regulatory procedures to deal with irregularities, complaints, and grievances related to transactions taking place in UAE-based securities exchanges by updating the decisions regulating them.

SCA has also created a committee to deal with grievances filed about decisions related to financial market transactions. The committee includes a number of concerned department managers and a group of specialized experts to accelerate grievance procedures while ensuring the highest levels of accuracy and soundness of the decisions made by the committee in this regard.

It is worth noting that SCA has been keen to develop the legislative infrastructure in an effort to (1) keep pace with the recent developments in world markets; (2) secure a sound financial market where supply and demand mechanisms interact by applying the principles of transparency, integrity, and fairness; (3) raise the efficiency and effectiveness of supervision and inspections; and (5) take punitive measures and actions against violators, given its vision, mission, and initiatives outlined in its strategic plan to bolster financial and economic stability and serve the interest of the national economy.