U.A.E. Bank Rules, EU Bank Legal Fees, Tibor: Compliance
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The United Arab Emirates may amend rules governing bank lending against shares after reviewing June’s stock price swings in Dubai and Abu Dhabi, the market regulator said yesterday.
Representatives of the Securities and Commodities Authority, the central bank and the country’s two main stock exchanges met in Abu Dhabi to consider the volatility, and will make changes to lending regulations if necessary, the SCA said in an e-mailed statement yesterday. The parties also agreed to set up a joint permanent committee to monitor trades and ensure the “absence of any suspicion of manipulation of securities’ price,” according to the statement.