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UAE: SCA seeks information on foreign exposure

Posted on 29 January 2009

From Khaleejtimes.com: The Securities and Commodities Authority (SCA) has instructed the listed firms to submit detailed information on their exposure to real estate, derivatives and structured products to ascertain the extent of the financial losses the nation’s companies have suffered from these investments in to recession-hit western economies.

The SCA circular comes as a follow-up to the UAE Central Bank’s instructions to banks and financial institutions on the same topic, issued on January 27, asking them to submit detailed information on their investment activities. …. Full Article: Source


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