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UAE bourse regulator considering lending against shares rules

The UAE’s Securities & Commodities Authority (SCA) has said it may amend rules governing bank lending against shares after reviewing June’s stock price swings in Dubai and Abu Dhabi, Bloomberg has reported. Representatives of the SCA, the central bank and the country’s two main stock exchanges met in Abu Dhabi to consider the volatility, and will make changes to lending regulations if necessary, the SCA said. The parties also agreed to set up a joint permanent committee to monitor trades and ensure the “absence of any suspicion of manipulation of securities’ price,” the regulator said.