UAE stockbrokers backed over the right to liquidate accounts | The National:
"The UAE federal market regulator on Wednesday said stockbrokers had the right to liquidate client portfolios if the customer could not cover a margin account.
The statement from the Securities and Commodities Authority (SCA) follows the worst stock market rout since the financial crisis, which investors say has been fuelled by the forced selling of shares by brokers in what are known as margin calls.
“Stockbrokers who sell stocks in the case where the client does not comply with coverage of the gap in the margin account within two working days are not considered to be violating or infringing so long as the company or stockbroker has notified the client of such a gap or drop accordingly with the procedures,” the regulator said."
'via Blog this'
No comments:
Post a Comment