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The Securities and Commodities Authority (SCA) said, in a statement released yesterday, that the mutual fund regulations published on its website are preliminary and under debate and preparation and that they are only published as part of SCA’s standard practices intended to solicit views and reactions from securities industry professionals before issuing any new regulations. SCA indicated that this was the norm to engage industry players in drafting regulations for their stock market activities and transactions.
SCA added that the draft regulations published on its website to solicit the views of specialists, market participants, and stakeholders may be different, in varying degrees, from the final regulations since it receives many inputs from market participants and industry players, which are taken into consideration when drafting final regulations before having them approved by its board of directors and relevant authorities.
