CMA holds workshop on importance of disclosure in financial markets

MUSCAT: The Capital Market Authority (CMA) organised a workshop titled “The Importance of Disclosure in the Capital Markets”. The workshop aims to enhance the transparency of disclosure in the financial markets and to raise awareness of concerned issuers of securities regarding procedures for disclosure of periodic data and market information in financial markets.
Abdullah bin Salim al-Salmi, CEO of CMA, said that joint stock companies are the property of the public and anything that happens in these companies must be announced to the public.
He pointed out that the public opinion, representing investors, depends on these statements whether in buying, selling or holding their shares in the company.
He added that matters should be clear to the members of the board of directors of the joint stock companies or to the management of these companies, investors or observers to the CMA.
He pointed out that owners of these companies must know what to disclose and when and how to disclose.
The workshop included several papers. Prof Jerry Tidwell,
Senior Advisor to the International Organization of Securities Commissions presented a working paper on the importance of disclosure in the financial
markets and the global outlook on disclosure.
Robin Paul of Deloitte and Touche Middle East presented a working paper on the importance of disclosure through the financial statements prepared by the company.
Maymouna al Sulaimaniyah, Legal Advisor and Founder of Law and Life Company presented a working paper on legal and legislative frameworks for the disclosure process in the Capital Market Law.
Sayyid Dr Munthir bin Hilal al Busaidi, Assistant Professor at the College of Economics and Political Sciences presented a paper on the importance of financial statements in investment decision-making. — ONA