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Ramallah: Palestine Securities Exchange organizes a seminar on the regulatory framework for the financial brokerage companies

2009-02-02
Palestine Securities Exchange organized yesterday in its representation office in Ramallah, a seminar entitled "The regulatory framework of the brokerage firms in Palestine". The seminar was attended by representatives and officials from the PSE and brokerage firms" members and the capital market authority. Mr.Sufian Barghouthi, the chief of the representation office of the PSE clarified the importance of providing support for research and studies related to the securities sector, which will benefit all the parties of the sector, as investment in human capital. He noted that the PSE is preparing a program of lectures and seminars to discuss the issues of capital market sector, in order to maintain communication and information and experiences flow among components of this important economic sector. In his turn, the researcher Kamal Al-Shafei, a PSE award winner of the scholarship Masters program in 2008, made a presentation of his study that had discussed the regulatory framework for the financial brokerage companies, in addition to its mechanism, controls, legal obligations and the rules governing their work and their rights and duties. He discussed the stages of the securities companies for attaining membership in Palestine Securities Exchange, and its requirements and conditions. He noted in his study to the existence of the positive aspects of the legal regulation of financial brokerage companies in Palestine, especially as measured by the juvenility of the market, noting at the same time to some negative aspects, which the legislature must be take them into account, such as duality the Companies Act and the multiplicity of regulating parties. Al-Shafei concluded in his study, to the recommendation to the legislators to reconsider some of the laws, and amend others in line with modern trends in capital markets and world economies.