The Qatar Financial Markets Authority affirmed its work to facilitate all procedures for dealers in the financial market, in particular facilitating subscription and trading procedures.
In this context, the Commission clarified that the procedures for one of the parents to trade for the account of minor children in buying and selling in securities, including allowing the addition of the bank account of either of them in the account of the minor, provided that this is from his own money and not from the money of the minor subject to the provisions of the guardianship over money law, or Through the minor’s bank account, and in accordance with the provisions of Article (38) of the Financial Services Law.
The Authority affirmed the support of all proposals that would facilitate the subscription procedures for companies wishing to be listed, provided that the subscription receiving authority determines a list of documents that must be attached to the subscription application (ID / IBAN) or any other documents specified by the offering manager, and to allow subscription for the benefit of the children. Minors provided that it is from the private money of one of the parents and not from the money of the minor subject to any of the provisions of legal representation (the money of the minor), subject to the provisions of the guardianship over money law.
Accordingly, the Authority indicated that it would be sufficient to follow the reduced or simplified diligence procedures and continuous monitoring in accordance with the provisions of Section 6.4 of the Anti-Money Laundering and Terrorist Financing Rules to provide more facilities in this regard.
The main functions of the Qatar Financial Markets Authority include the regulation, supervision and control of financial markets. Regulating dealing in securities activities in a manner that is fair, competitive and transparent.
In addition to educating the public about securities activity, encouraging investment in it and its development, and monitoring the rules of dealing between dealers in securities trading activities and others.
Implementing a disclosure policy in a way that achieves justice and transparency, prevents conflicts of interest, or exploiting inside information, and combats the causes of crimes related to financial markets.
In addition to supporting links and links, and exchanging information with foreign financial markets, regional and international bodies, institutions, and organizations, to benefit from their methods of dealing, in a way that helps develop Qatari financial markets.
It also conducts studies, collects information and statistics on the activities of financial markets, and publishes related reports
Issuing rules and regulations related to the capital market and dealing in securities within the State of Qatar, based on international standards and what is commensurate with the needs of the Qatari market and achieves the regulatory purposes of the Authority.
Ensuring the integrity and transparency of the market by monitoring trading operations in parallel with the Qatar Stock Exchange in its capacity as the competent authority, detecting manipulations and irregularities that may occur in the market or suspicious deals, and taking the necessary measures in accordance with laws and regulations.
Follow up on the disclosure of companies listed on the stock exchange, monitor the trading of securities, and follow up on the commitment of licensed companies and individuals to practice regulated activities or jobs with the terms of the licenses granted to them.
Carrying out periodic and non-periodic inspections of the Stock Exchange and companies licensed to conduct regulated activities.
