ABU DHABI, October 9, 2021 (WAM) – UAE regulators and financial markets participate in the International Organization of Securities Commissions (IOSCO) events launched on Sunday as part of the Global Investor Week 2021 campaign, which this year aims to improve investor financial culture and shed light on the issues the campaign events are about, including sustainable finance, fraud and fraud prevention.
The authorities participating in the campaign are the Securities and Commodities Authority (SCA), Abu Dhabi Securities Exchange (ADSX), Dubai Financial Market (DFM), Dubai Gold and Commodities Exchange (DGCX), Financial Services Regulatory Authority of Abu Dhabi Global Market, and Dubai Financial Services Authority. The authorities participating in these events look forward to strengthening and enhancing the UAE’s position as the leading financial center in the region and the world, in line with the UAE government’s vision and the state’s national agenda.
This year’s Global Investor Week campaign aims to highlight the importance of raising awareness on four main topics: financial fraud, sustainable finance, fundamentals of investing, and electronic investing.
Dr. Maryam Al Suwaidi, Acting CEO of the Securities and Commodities Authority, stated, “The themes of this year’s campaign reflect the challenges facing the financial world in the post-pandemic era as the world today faces unprecedented threats to the financial community respond to and overcome these threats by promoting sustainable investment. “She added that” the proliferation of digital technologies used in investing poses new challenges in containing and fighting financial crime that investors should be aware of . ”
The Authority’s CEO noted the willingness to participate in the Global Investor Week initiative annually by disseminating protective messages to financial instrument traders and clarifying the authority’s oversight role to achieve the safety and stability of financial markets , through several statutory mechanisms to protect the rights of traders in the markets and to balance them between them or any measures it deems necessary to reduce manipulation and fraud in the markets.
Dr. Maryam Al Suwaidi said: “The agency has ensured that this year’s initiative’s events are characterized by the introduction of a mix of awareness-raising activities that combine physical presence and remote events – using electronic communication techniques – in line with precautionary measures applied to reduce the risks of Covid-19. ”
The authorities involved organized an integrated event package with virtual seminars for investors, dialogue events for universities and colleges, as well as a campaign that was to be launched from October 10th to 14th via social media platforms in order to shed light on the topics of the campaign events turning (sustainable finance as well as fraud and fraud prevention).
In addition to disseminating awareness messages in Arabic and English through various media, as well as the reports of the authorities participating in the campaign on social networks.
The campaign messages vary between messages related to IOSCO and others created by the agency aimed at enlightening those involved in the financial sector in general and securities activities in particular, and mainly focus on the issues of “financial fraud” “. “And” Sustainable Finances “.
“SCA participates in the” IOSCO “Global Investor Week 2021 events as it is an active member of the International Organization of Securities Commissions, knowing that regulators representing at least 100 countries are members of IOSCO, to the events.
The supervisory authorities of the state are keen to actively participate in the various activities of international organizations and their regional bodies in order to keep track of the latest developments and to keep up with relevant global standards that positively reflect the local economic reality and reflect the position of the UAE in international forums.
It should be noted that the International Organization of Securities Commissions (IOSCO) launched its “Global Investor Week” awareness-raising initiative for the first time in 2017 in order to increase financial knowledge and strengthen the culture of capital market investors.
Year after year, this initiative gains double importance in return for its efforts to educate and protect investors, which in light of the global economic environment that has prevailed for almost two years due to the effects of the coronavirus pandemic and the precautionary measures to be taken to counter it.
The purpose of this initiative is to promote the culture of investors and uphold their rights through the concerted efforts of all authorities overseeing the securities and commodities sectors in the Member States of the organization, as well as the use of various means of communication and media to raise investor awareness and highlighting the role of regulators and financial markets in protecting investors.
IOSCO – which is the reference authority for the supervisory authorities of the world’s securities markets – comprises members from more than 100 countries worldwide, as its members include the securities supervisory authorities, the World Bank, the International Monetary Fund and, in addition to financial and currency institutions, several financial markets. The number of its members is more than 200, including 114 from the securities regulators. The member states of IOSCO control and regulate more than 95% of the financial markets worldwide. IOSCO strives to strengthen the cooperation between its members and to develop regulatory standards in the securities markets in order to ensure the highest level of transparency and effectiveness in trading, to facilitate the exchange of information and experience and to unify regulatory standards.
IOSCO also seeks to protect investors and build their confidence in the integrity of financial markets by promoting cooperation in the area of financial market supervision and brokers, as well as cooperation to curb inappropriate practices. IOSCO works to improve the coordination process between all its members in order to develop, apply and implement internationally recognized standards. IOSCO facilitates the exchange of information at regional and international level in order to support the development of the financial markets, to strengthen the infrastructure of the markets and to enact appropriate laws.