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The Dubai Financial Market pjsc, Hosted a seminar last week about market abuse as experts from CCL Limited, a regulatory compliance consultancy and Securities & Investment Institute’s accredited training provider, gave attendees from brokerage houses and DFM staff insight about offences in financial markets.
The seminar titled “Market Abuse” and covered many topics including the regulatory and legal frameworks to handle market abuse offences such as insider trading, manipulation and submission of misleading, false and inaccurate information. speakers highlighted the importance of the continued development of regulations and controls to deal with any possible market abuse. Speakers during the event were Clare Curtis, Director and Katrina Bradley, Senior Consultant at CCL Limited.
The seminar also covered the regulatory background to the topic, the need for rules protecting the financial markets against such offences, some of the types of Market Abuse, including insider dealing, and some of the basic systems and control firms should have in place to prevent their firms from being involved in Market Abuse.
The speakers illustrated different types of Market Abuse by using real case studies from different parts of the globe and different industry sectors. Also recent cases of corporate fraud, such as Satyam, were also discussed from a Market Abuse and Market Confidence perspective both of which are also relevant to insider dealing.
DFM is keen to continue cooperation with local and international institutions and consultancies to enhance trading control, and fight market abuse. The seminar was a great opportunity for brokers and DFM staff to get an insight into the latest global trends and it was a good support for us as well to intensify our efforts in supervision, market control ,fighting manipulation, insider trading and any other offences that may occur in the financial markets.
The SII was very supportive and keen to give insight to brokers and DFM staff. The lecture was fruitful and very useful for the audience, and is just the beginning for a long term, strong and cooperative relationship between the Dubai Financial Market and the Institute. this kind of cooperation will strengthen efforts to maintain the best trading platform, ensure equality among investors and the fight market abuse, using the most up-to-date tools globally.
The Securities & Investment Institute (www.sii.org.uk) was formed in 1992 by members of the London Stock Exchange. Its mission is to set standards of professional excellence and integrity for the securities and investment industry, providing qualifications and promoting the highest level of competence to its members, firms and others.
The Securities & Investment Institute is now the pre-eminent professional body for those who work in the securities and investment industry in the UK. Over 40,000 members benefit from a program of professional training and development. The Institute is the principal awarding body for industry qualifications and last year its examinations attracted 40,000 candidates.
Recently, SII signed an agreement with the Emirates Securities and Commodities Authority “ESCA” to boost competence and capabilities of the brokers and financial analysts in the local financial markets.
