Brokers reject regulator's claim they are to blame for stock market meltdown | The National:
"Stockbrokers yesterday complained about being made scapegoats by market regulators for the Arabtec-led market meltdown last month.
The Securities and Commodities Authority (SCA) carried out inspections of brokerages last month, it has emerged, where it requested reports that detailed margin calls accompanying the 50 per cent decline in Arabtec stock between May and June.
“They tried to put the blame on us,” said Fathi Ben Grira, the chief executive at Mena Corp, an Abu Dhabi investment company. “You can’t blame margin calls for what happened in the market. What happened in the market was Arabtec.”"
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