(MENAFN- Khaleej Times) The Emirates Securities and Commodities Authority, or SCA, has signed two memoranda of understanding with the Brazilian Securities and Exchange Commission, or Comissão de Valores Mobiliários, (CVM), and Malaysia's Labuan Financial Services Authority (LFSA) in a move to boost institutional cooperation.
The MoU between the SCA and CVM will facilitate sharing of technical assistance between the two sides in a way that will help boost the respective markets under the supervision of the two authorities.
It also provides for greater guarantee for the rights of investors and joint actions by the two sides for more efficient securities markets in their respective countries. In addition it will also attract more investment from the two countries through the promotion of joint listing of securities on the markets of the two countries to further push forward the wheels of growth and create new investment opportunities.
On the other hand, the MoU between the SCA and LFSA aims at boosting bilateral cooperation and assistance between them in all areas that will help them discharge their duties, particularly in the areas of research and improvement of legal, regulatory and operational performances.
The chief executive officer of the SCA, Abdullah Al Turifi, is taking part in the 38th Conference of the International Organisation of Securities Commissions, or Iosco, being held in Luxembourg. Al Turifi will attend the meetings of the President's Committee, apart from meeting with his counterparts from Malaysia, Brazil and Gulf states, and attend the signing ceremony signing of the Iosco's Multi-lateral Memorandum of Understanding, Growth and Emerging Markets Committee meeting, Africa/Middle East Regional Committee meeting, while the delegation will also participate in a number of workshops and sessions.
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