RIYADH, 29th April, 2013 (WAM) -- The 8th meeting of the Committee of Chairmen of Financial Markets Authorities of GCC-member countries is scheduled to be convened in the Kingdom of Bahrain's Capital, Manama, on Tuesday.
According to Bahrain News Agency, the meeting discusses a number of important topics pertaining to financial markets, proper tracking mechanism(s) and uniform rules regarding shares offered for subscription in GCC-member countries, rules for disclosure regarding financial instruments listed in GCC financial markets and principles for corporate governance for companies listed in financial markets of GCC-member countries. It considers recommendations submitted from technical working teams, including outcomes of the meeting of the working team on listing, disclosure and governance regarding regular reports pertaining to extent of enforcement of uniform rules for listing in financial markets, proposals necessary to develop them, and recommendations from the working team on initial issuances and subscriptions in GCC stock markets, outcomes of the working team on supervision and control of circulation in the financial markets of GCC-member countries. The meeting also discusses a proposal on organizing a workshop on the subject of transparency during compilation of financial statements via the electronic disclosure system (XBRL) as well as latest developments taking place in the financial markets in GCC-member countries.Copyright Emirates News Agency (WAM) 2013.
