United Arab Emirates to reveal identities of stock market rules violators

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Traders monitor stock information at the Emirates Securities Market in Abu Dhabi December 12, 2010. REUTERS/Fadi Al-Assaad

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DUBAI, May 9 (Reuters) – The United Arab Emirates will reveal the identities of violators of stock market rules, vice president and prime minister Sheikh Mohammed bin Rashid Al Maktoum tweeted.

The names will be announced alongside details of the violations committed, he said without specifying whether he was referring to individuals or entities or both.

“The goal is to raise investment awareness and protect our financial markets and deter violators and ensure the protection of all investors,” he said.

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No date was given for when the decision comes into effect.

The move came as the UAE cabinet held a meeting on Monday introducing a raft of reforms including the establishment of a Dubai debt management office and a countrywide decision to introduce unemployment insurance. read more

Dubai’s financial regulator, the Dubai Financial Services Authority, last month introduced a regulatory regime for whistleblowing, providing better legal protection for persons who report misconduct internally within entities in its jurisdiction.

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Reporting by Hadeel Al Sayegh, editing by Ed Osmond

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