The Emirates Securities and Commodities Authority (SCA) is set to fine-tune the stock market regulation by making some necessary amendments to raise them to global standards.

The move is aimed at bringing the SCA regulations in line with the latest practices of international financial markets, said a Gulf News report quoting a top official.

Abdullah Al Turifi, SCA chief executive officer, said the SCA was striving to develop further the legislative system of the UAE's financial market and had input some necessary amendments into the rules and regulations to strengthen the legislation further to raise them to the level of those of the international markets.

"The SCA continues to develop a number of rules and regulations to boost the legislative infrastructure of the UAE's financial market sector, while on the other hand, it continues to organise awareness and counselling campaigns to serve the interest of all stakeholders and concerned parties in that sector," the report added.

Sultan Bin Saeed Al Mansouri, Minister of Economy and SCA board chairman, issued a ministerial decree on the rules and regulations of Corporate Governance and Institutional Code of Conduct, which will become compulsory from May 1, 2010, it added.

The minister also issued other decrees, including a decree regulating the "Custodian" Stock Exchange which allows the regulation of new activities needed on stock markets in the country.