CMA Decision No. 4/R of 2020 · UAE Federal
Amending instrument that changes the Listing and Trading of Commodities Regulations (CMA Decision No. 157/R of 2005). The CMA has consolidated its changes into the current text of the amended regulation and keeps this instrument in its archive of amending regulations.
Decision No. 04/Chairman of 2020 added a single article, Article 3-12 bis, to the Listing and Trading of Commodities and Commodities Contracts Regulations (Board Decision No. 157/R of 2005). Issued in Abu Dhabi on 2 February 2020 after board approval on 15 December 2019, it took effect 30 days after publication in the Official Gazette (Second Article). The CMA has consolidated the new article into its text of the 2005 regulations, with a footnote attributing it to this decision.
Before the change, the brokerage chapter of the 2005 regulations (Part Three) applied its account segregation, solvency and financial statement requirements to every licensed commodities brokerage firm. Under the new Article 3-12 bis, foreign companies and banks licensed for brokerage are exempt from three sets of obligations in the regulations: the controls and mechanism for segregating accounts with brokers, the financial solvency standards, and the financial statements requirements. The condition is that they are licensed to carry on brokerage by a regulator similar to the Authority, meaning an ordinary or associate member of the International Organization of Securities Commissions (IOSCO), and are subject to that regulator's requirements on those matters. All other obligations of brokerage firms in Part Three, including licensing, client agreements, record keeping and conduct, continue to apply to them.
Foreign companies and foreign banks licensed to carry on commodities brokerage on a UAE commodities market that are regulated at home by an IOSCO member regulator, and the markets supervising them.
English official text in 1 passages. Open the full text or jump to a provision:
| Article 1 | The First Article inserts Article 3-12 bis into the 2005 regulations: foreign companies and banks are exempt from account segregation controls, financial solvency standards and financial statement obligations if licensed for brokerage by an IOSCO member regulator and subject to its equivalent requirements. |
| Article 2 | The Second Article provides for publication in the Official Gazette and entry into force 30 days after publication. |
We meet this amendment when a foreign broker or bank client considers serving UAE commodities markets and asks what local prudential rules it must duplicate. The answer depends on its home regulator being an IOSCO member. Polaris is not licensed by the CMA and does not provide brokerage. We explain the licensing route, set up and administer any local entity or branch structure, coordinate with the client's licensed advisers, and keep its corporate and AML records in order.
| Amends | CMA Decision No. 157/R of 2005 |
| Cites | Former SCA Law |
“Cites” and “Cited by” are built automatically from references in the full texts held in this library; they cover only instruments in the library.
Listing and Trading of Commodities Regulations
Regulates the listing and trading of commodities and commodity contracts on licensed commodities markets, including the obligations and financial reporting of licensed me…
Amendment 56/R of 2012 to Listing and Trading of Commodities Regulations
Amending instrument that changes the Listing and Trading of Commodities Regulations (CMA Decision No. 157/R of 2005). The CMA has consolidated its changes into the curren…
Amendment 8/Chairman of 2022 to Listing and Trading of Commodities Regulations
Amending instrument that changes the Listing and Trading of Commodities Regulations (CMA Decision No. 157/R of 2005). The CMA has consolidated its changes into the curren…
Amendment 35/Chairman of 2019 to Listing and Trading of Commodities Regulations
Amending instrument recorded in the amendment notes of the Listing and Trading of Commodities Regulations (CMA Decision No. 157/R of 2005). The CMA has consolidated its c…
Former Brokerage in Securities Regulation
Board regulation on brokerage in securities, amended several times and now listed by the CMA among superseded regulations.
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