UAE market regulator grants listed firms additional 45 days to report results – The National

UAE market regulator grants listed firms additional 45 days to report results – The National

UAE market regulator grants listed firms additional 45 days to report results. The SCA move gives firms more time to address potential compliance issues stemming from the coronavirus impact. The UAE's market regulator gave listed companies an additional 45 days to file their earnings statements for the financial year 2019 and the first quarter of this year.. The move is aimed at allowing firms to "address potential compliance issues stemming from the impact of the coronavirus on investors and capital markets", the Securities and Commodities Authority said in a statement carried by official news agency Wam.. A circular by the regulator directs companies to report their 2019 financial year statements no later than May 14 and their first quarter earnings by June 30.. Earlier the week the regulator halved the limit of losses that prompts a temporary halt in trading on UAE equities markets to support investor confidence.. In March, Boursa Kuwait was one of the first in the region to reduce the loss limit for trading to 5 per cent after the Kuwait Premier Market hit a 10 per cent down-limit three times within two weeks.. Short-selling practices "are not in place in UAE capital markets" it