CMA Participates in the 12th Meeting of the Union of Arab Securities Authorities
The Capital Market Authority participated in the 12th meeting of the Union of Arab Securities Authorities (UASA) held in Lebanon with a delegation chaired by HE Sheikh Abdullah Salim Al Salmi, Executive President of CMA and Badr Salim Al Mahrouqi, Director of the Office of the Executive President
The meeting discussed a number of topics related to the performance of Arab and global markets as well as issues related to legislative and regulatory aspects of Arab markets and the mechanism for exchange of expertise.
The meeting also discusses a study on pricing of the companies on listing and the problems of voluntary and compulsory delisting and the recommendations of the team that prepared the study.
They meeting reviewed the processes relating to the multiparty memorandum of understanding among the member states of UASA and the portal for investor education and awareness on securities market and sound investment strategies to create safe investment culture in the Arab markets.
Established in 2007, the UASA is a not-for profit union for securities authorities with an independent legal personality. The Members of the Union are the Arab Securities Authorities and markets Regulators a based in the United Arab Emirates s
The UASA objectives are to upgrade the legislative and regulatory level of Arab securities markets with a view to achieving fairness, efficiency and transparency. Unify efforts towards achieving effective levels of oversight over transactions in the Arab securities markets and to ensure coordination and cooperation among members to achieve maximum harmony and consistency with regard to relevant laws and regulations applicable in the member states are main goals of the UASA. UASA aims also to overcome difficulties facing investment in the Arab securities markets, and to expand the investment base, diversify its tools and promote the culture of investing in the Arab securities markets. Promoting the concepts of disclosure, transparency and governance in addition to the application of the best international standards and practices are also important objectives of the UASA.