.jpg)
Pursuant to the directives of H.E. Eng. Sultan bin Saeed Al Mansoori, Minister of Economy and Board Chairman, the Securities and Commodities Authority (SCA) is developing a program that involves a series of visits during which consultative meetings with the boards of public joint-stock companies listed on UAE financial markets are to be held.
H.E. Dr. Obaid Al Zaabi, Acting Chief Executive Officer of SCA, said that these meetings, to be held with the board chairmen of public joint-stock companies, come to promote SCA’s partnership with its strategic partners and acquaint them with its initiatives and plans in preparing regulations and legislations that support the legislative infrastructure of markets and upgrade market performance.
He added that the meetings discuss a number of corporate matters, such as governance and corporate discipline mechanisms and controls, governance disclosure reports, increasing the representation of women on boards of joint-stock companies, encouraging companies to appoint women to their boards, encouraging companies to adopt innovative mechanisms for disclosure of preliminary financial statements, and drawing a road map to upgrade performance to serve the interest of investors and market participants.
Dr. Al Zaabi explained that during the meetings, remarks; challenges; and suggestions of public joint-stock companies will be addressed and prospects for business development, in accordance with the best international practices, will also be discussed to boost confidence and support market prosperity.
It is worth noting that SCA is keen to constantly get in touch with various market players to get their suggestions and make use of their comments and remarks, whether through direct meetings or a number of other methods, such as the reactions and suggestions given on the draft regulations and legislations uploaded on the website before issuing them in their final shape.
