emirates7 - The Abu Dhabi Securities Exchange (ADX) announced that the prohibition on insider trading will commence today, 16th September 2024, and will remain in effect until the full disclosure of the third-quarter 2024 financial statements.
ADX explained that this decision aligns with Article No. 14 of the Securities and Commodities Authority (SCA) Board of Directors' Decision No. (2/R) of 2001, which pertains to the regulations governing trading, clearing, settlement, transfer of ownership, and custody of securities.
The directive will be distributed to the SCA, all listed companies, relevant ADX departments, accredited brokers, and ADX investors.
Under Article 14, it is prohibited for company chairpersons, board members, or employees with access to insider information to engage in trading, either directly or through others, in the securities of their own company, parent company, subsidiaries, affiliates, or related companies listed on the exchange. This restriction is enforced during the 15 days leading up to the disclosure of the company’s financial statements and remains in place until the statements are made public.
ADX explained that this decision aligns with Article No. 14 of the Securities and Commodities Authority (SCA) Board of Directors' Decision No. (2/R) of 2001, which pertains to the regulations governing trading, clearing, settlement, transfer of ownership, and custody of securities.
The directive will be distributed to the SCA, all listed companies, relevant ADX departments, accredited brokers, and ADX investors.
Under Article 14, it is prohibited for company chairpersons, board members, or employees with access to insider information to engage in trading, either directly or through others, in the securities of their own company, parent company, subsidiaries, affiliates, or related companies listed on the exchange. This restriction is enforced during the 15 days leading up to the disclosure of the company’s financial statements and remains in place until the statements are made public.