source:WAM

Under directives from the UAE Cabinet as part of the precautionary measures taken nationwide to stem the impact of COVID-19, the Securities and Commodities Authority, SCA, has recently taken a number of proactive steps to provide support and flexibility to domestic securities markets and promote investor confidence.

Reducing to 5 percent from 10 percent the loss thresholds triggering a stop to trading was among these initiatives, which also included the development of a mechanism to facilitate share buybacks for listed companies to ensure further support to domestic stock markets without adversely affecting the trades taking place.

SCA has also reaffirmed that short-selling practices are not in place in UAE capital markets.

All listed companies have been instructed to hold their general assembly meetings remotely via a secure remote e-voting system.

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