The regulator of NASDAQ Dubai will further tighten corporate governance rules in its latest effort to align itself with global practices.
The move follows regional efforts to strengthen the role of shareholders, independent directors, audit and remuneration committees and other mechanisms aimed at providing “checks and balances” for corporate executives.
The proposed amendments to the 2004 law, which were seen by The National, will be sent to all firms listed on NASDAQ Dubai, one of the country’s three stock exchanges, within weeks. They can respond within 90 days.
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