The financial market regulator has developed guidelines to help encourage cash-strapped brokerages to merge amid depressed market conditions and slumping volumes.
The move by the Securities and Commodities Authority (SCA) comes as many brokers seek to wind up their operations as business slows.
"As part of our ongoing encouragement to brokerages to merge and create a stronger entity that is able to withstand low volumes in challenging times, we have introduced special provisions to deal with mergers, to regulate the process and protect the rights of all parties," said Maryam Al Suwaidi, the deputy chief executive at the SCA.
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