§Passage 1
Authority’s Board of Directors’ Decision No. (04 /Chairman) of 2020 Amending Authority’s Board of Directors’ Decision No. (157/R) of 2005 Concerning the Regulations as to Listing and Trading of Commodities
and Commodities Contracts
Chairman of Securities and Commodities Authority
Having considered The Federal Law No. (4) of 2000 concerning the Emirates Securities and Commodities Authority and Market, as amended
Cabinet Resolution No. (13) of 2000 concerning the Regulations as to the Functioning of the Securities and Commodities Authority, as amended.
Cabinet Resolution No. (8/14 W) of 2017 regarding the Restructuring of the Board of Directors of the Securities and Commodities Authority.
Authority’s Board of Directors’ Decision No. (157/R) of 2005 concerning the Regulations as to Listing and Trading of Commodities and Commodities Contracts.
And based on the approval of the Authority’s Board of Directors at its twelfth meeting of the sixth round at its session on 15/12/2019
Decided:
First Article
Article (3-12 Bis) of the referred Decision shall be added to be read as following:
“Foreign companies and banks are exempt from the obligations mentioned in this Decision that related to the following:
1. The controls and mechanism for segregation of accounts with brokers.
2. Financial solvency standards.
3. Financial statements.
They shall be licensed to practice the brokerage activity by a regulatory authority similar to the Authority - ordinary member or associate member with International Organization of Securities Commissions (IOSCO) - and subject to its requirements relating to those obligations”.
Second Article This decision shall be published in the official Gazette and come into effect 30 days from the date of its publication.
Engineer / Sultan bin Saeed Al-Mansoori Chairman
Issued in Abu Dhabi on 2/2/2020 A.D