Dr. Al Suwaidi Reviews SCA’s Development Initiatives at an Online Meeting with FINMA’s Chair

Dubai UAE

Sallam Sallam

H.E. Dr. Maryam Butti Al Suwaidi, Acting Chief Executive Officer of the Securities and Commodities Authority (SCA), discussed with Prof. Marlene Amstad, Chair of the Swiss Financial Market Supervisory Authority (FINMA), a range of issues relevant to the securities sector.

The meeting—held via videoconferencing—reviewed a number of development initiatives that SCA introduced as part of its efforts to draw on the best international practices. The meeting also touched on the experience of both authorities in promoting the investment environment, sustainable investing, virtual assets, and self-regulatory organizations. It discussed the long way SCA had come in this regard, which enabled delegating specific powers to the financial markets and the industry.

Dr. Al Suwaidi said that the meeting “reviewed SCA’s initiatives to improve the country’s financial markets and enhance the investment opportunities available in the securities sector” indicating that “this meeting marks the continuation of a productive cooperation with the Swiss counterpart, FINMA, notably on topics that are dealt with in the framework of the International Organization of Securities Commissions (IOSCO), a forum in which both the SCA and FINMA are active.” Dr. Al Suwaidi also pointed to the UAE competitive investment environment and the advanced legislative structure it boasts as well as to the initiatives that SCA embarked on to accelerate the move towards upgrading the UAE markets to advanced market status.

It is worth noting that Prof. Amstad has served as Chair of the Swiss Financial Market Supervisory Authority (FINMA) since January 01, 2021. She is a professor of international finance and quantitative economics. She held key positions at several internationally reputable institutions in the public and private sectors.