Bahrain Bourse forms an appeals board for settling disputes and accountability

Bahrain Bourse, the self-regulatory multi-asset market, recently announced that it has formed the Appeal Board in the Bourse as part of its commitment to the requirements of the Central Bank of Bahrain, and to complete the steps to provide an integrated framework for dispute settlement and arbitration, and to issue disciplinary measures against related parties, such as issuers of securities and members registered in the Bourse. , giving them the right to appeal against the decisions issued against them, in addition to strengthening the principle of accountability in the market, as members of the Appeal Board are appointed by a decision of the Board of Directors of the Bahrain Stock Exchange, and with the approval of the Central Bank of Bahrain.
The decision to form the Appeal Board is in line with the rules issued by the Bahrain Stock Exchange, regarding the application of the procedures for requesting an appeal against the decisions issued by the Disciplinary Board and the Violations Committee at the Bourse, according to the Bahrain News Agency.
The powers of the Board revolve around considering appeals against disciplinary decisions issued against the concerned parties, according to the text of the rules issued by the Stock Exchange and the guidelines issued by the Central Bank of Bahrain, Volume VI, Unit “Dispute Resolution, Arbitration and Disciplinary Procedures”.
Shaikh Khalifa bin Ibrahim Al Khalifa, Chief Executive Officer of Bahrain Bourse, said, “The formation of the Appeal Board is a very important step, based on the Bourse’s commitment to its role as a key player in the capital market and as a self-regulatory institution. The highest levels of transparency, and the application of the principle of accountability in the market on the widest scale. He added, “The formation of the board, which includes candidates from the judicial and legal corps in the Kingdom, will contribute to ensuring the smooth application of the relevant parties’ appeal procedures against disciplinary decisions issued against them, and the protection of the rights of the capital market parties as required, and the Bahrain Bourse is always keen to follow a strong and active approach.” To ensure compliance with laws, rules and regulations, as this plays a key role in providing a fair environment for investors and dealers in the market.”
On the other hand, the Abu Dhabi Securities Exchange announced the reduction of trading commissions on all deals by 50 percent, starting from Tuesday, the first of September, as well as extending trading hours for an additional one hour, provided that trading opens at ten in the morning and continues to three in the afternoon. Starting from the 3rd of October.
The reduction of trading fees, to 0.025 percent instead of 0.05 percent, is the third that the market has done in less than three years and the second during 2021.
The decision to extend the trading period for an additional hour, after it was previously closed at two in the afternoon, comes in order to harmonize the trading hours in the market with many global stock markets.
These initiatives fall within the framework of ADX One’s strategy, which was announced earlier this year, to enhance market activity and also to increase liquidity.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.