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Insider trading banned in UAE capital markets

A ban on the insiders’ trading at public shareholding companies listed in the UAE capital markets took effect on Sunday, 17th March 2019, in compliance with the applicable regulations and rules.

In a circular issued today, the Abu Dhabi and Dubai Financial Markets called on listed shareholding companies and brokerage companies to implement the ban until the announcement of the financial statements for 2019’s first quarter.

The move comes in line with to the provisions of Article 14 of the Securities and Commodities Authority’s (SCA) board of directors resolution No. (1) of 2001 concerning trading, clearing, settlement and transfer of ownership and custody of securities.

Abu Dhabi Securities Exchange,ADX, announced that:”Insiders’ trading prohibition period starts on 17th March 2019 pending the full disclosure of the Q1financial statements.” According to Article 14, it shall not be permitted for a chairman, members of the board of directors of a listed company, director general or any of the employees who has access to insider information to trade – whether by themselves or through others – in the securities of the same company or its parent company, subsidiary, affiliate or allied company if any of those companies were listed on the market, during a period of 15 days before disclosing the financial statements of the company and until they are disclosed.

Source: WAM

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One comment

  1. Angel NicGillicuddy

    It’s already been tried.
    Doesn’t work
    And that is very easy to see
    In our global experience
    Using the hoardable form of money.
    I know that your use of Central Bank money
    Is young.
    And I know you can see
    By just looking at ALL the other countries
    How The hoardable money doesn’t work
    And just leads to LOTS
    of problems.
    And a huge waste of effort
    And Money.
    You will lose in the game
    Of hoardable money.
    See ShiBboLeTh, The Tale of Two Secret Passwords and Money
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    Mohammad would approve
    And so would all the other religions
    Which condemn usury.
    See ShiBboLeTh for that definition.
    Yours Truly
    Angel NicGillicuddy ???

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