<body><script type="text/javascript"> function setAttributeOnload(object, attribute, val) { if(window.addEventListener) { window.addEventListener('load', function(){ object[attribute] = val; }, false); } else { window.attachEvent('onload', function(){ object[attribute] = val; }); } } </script> <div id="navbar-iframe-container"></div> <script type="text/javascript" src="https://apis.google.com/js/plusone.js"></script> <script type="text/javascript"> gapi.load("gapi.iframes:gapi.iframes.style.bubble", function() { if (gapi.iframes && gapi.iframes.getContext) { gapi.iframes.getContext().openChild({ url: 'https://www.blogger.com/navbar.g?targetBlogID\x3d32569479\x26blogName\x3dBusIneSS+WHIZZards\x27+Dubai\x26publishMode\x3dPUBLISH_MODE_BLOGSPOT\x26navbarType\x3dBLUE\x26layoutType\x3dCLASSIC\x26searchRoot\x3dhttp://bizzwhizzdubai.blogspot.com/search\x26blogLocale\x3den_US\x26v\x3d2\x26homepageUrl\x3dhttp://bizzwhizzdubai.blogspot.com/\x26vt\x3d-3078903150650557799', where: document.getElementById("navbar-iframe-container"), id: "navbar-iframe" }); } }); </script>

2nd Middle East IPO Summit - Dubai

Dubai Financial Services Authority (DFSA) chairman Dr Habib Al Mulla has called on all markets to draw on the success of the major financial centres. Speaking at the 2nd Middle East IPO Summit in Dubai Dr Mulla said major financial centres had achieved high Investor Protection Indices in the World Bank Doing Business Survey.

In explaining the DFSA's regulatory approach with regard to the Offer of Securities and companies listed on the Dubai International Financial Exchange (DIFX), Dr Mulla described the DFSA as a strong regulator which was focused on "confidence and protection."

Dr Mulla said: "Shareholder confidence is an essential component of a sound capital market and with that comes a need to ensure that investors are protected. Too many markets are playing lip-service to the cause of investor protection and the gap is growing when compared to the best practice found in the major financial centres."

Dr Mulla also referred to DFSA's busting of an Internet fraud and the closing down the operation of fictitious websites called the Dubai Options Exchange, the United Arab Emirates Commodity Futures Board and Cambridge Capital Trading that were claiming to offer financial services within the DIFC, stating, "while a number of investors have been caught out by this fraud, many will have been saved."

"This brings another dimension to international best practice - international cooperation," he added.

Dr Mulla said: "The DFSA had cooperated both locally and internationally using its Memoranda of Understanding arrangements with the Emirates Securities and Commodities Authority, the Dubai Police and the Malaysian, US, UK and Australian Regulators."

He called on all markets, governments, and practitioner associations to cooperate to increase investor confidence in the region stating, "They need to embrace regulatory measures and exceed them wherever there is an opportunity to improve transparency, enhance disclosure and good governance."

Concluding, Dr Mulla explained that "the DFSA's regulatory approach provides a unique insight and response to globalising markets and we are keen to share and exchange our knowledge and experience with other regulatory bodies, governments and practitioner associations; we can all learn from each other to boost shareholder confidence throughout the Middle East."-(TradeArabia News Service)

0 Comments:

Post a Comment

<< Home

Join the whizzards Group

be whizzD In From Today

Web This Blog


Archives

Previous Posts

Links