Esca to settle status of Golden Gate clients

Abu Dhabi: The Emirates Securities and Commodities Authority (Esca) has set up a committee as part of its initiative to settle the status of the clients of Golden Gate Securities, which was earlier suspended by the authority.

The committee comprises representatives from the authority, DFM and the Abu Dhabi Securities Market (ADSM). Under the initiative, owners of shares registered with the suspended brokerage company can approach the company's temporary headquarters in the Dubai Financial Market (DFM) to apply for transferring their shares to another brokerage company or for clearance, according to an Esca statement.

The initiative comes in line with the authority's regulatory and supervisory role in protecting the rights of investors and all traders, as well as with its keenness on settling the status of the company's clients, it said.

The issue of the company's clients who are indebted to the company will be tackled through proper solutions and necessary procedures to be announced soon, the statement said.