ABU DHABI: A ban on insider trading on UAE capital markets will go into force effective next week until the revelation of the third-quarter financial statements by listed companies in compliance with the rules and regulations of the Securities and Commodities Authority.
The Abu Dhabi Securities Exchange and Dubai Financial Market have announced that the band shall be effective September 16 until the disclosure of the 2017 third quarter financial results as per Article 14 of Rules and Regulations governing trading, clearing, settlement, ownership transfer and securities activities.
According to SCA regulations, it shall not be permitted for a chairman, members of the board of directors of a company, any of the employees who has access to insider information to trade — whether by themselves or through others — in the securities of the same company or its parent company, subsidiary, affiliate or allied company if any of those companies were listed on the market, during a period of 15 days before disclosing the financial statements of the company and until they are disclosed.
