A closer look at secret trading in the UAE | The National:
"As a result of the market turmoil that followed the Arabtec saga, the UAE stock market regulator is shedding light on a practice that blurs the lines between traders and their clients.
The Securities and Commodities Authority (SCA) has appointed four financial institutions to put forward recommendations towards a regulatory reform that will distinguish trades made by banks on behalf of clients from trades made using the bank’s own money.
The SCA has tasked EFG Hermes, HSBC, NBAD and Al Mal Capital with providing a report by the end of December, according to sources familiar with the matter. All four financial institutions declined to comment last week."
'via Blog this'
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