QFMA probes 25 cases of trading violations

 13 Jul 2014 - 5:28

By Satish Kanady
DOHA: The Qatar Financial Markets Authority (QFMA) launched a series of investigations into the alleged cases of violations by the market players in Qatar, last year. The market supervisory body conducted 16 inspections at various organisations, including some brokerage companies, in 2013.
QFMA said it received a number of reports about suspected trade violations and money laundering during last year. The body recommended appropriate action against the erring companies to the competent authority. It submitted 10 reports against various companies regarding trading violations. In the first quarter of 2013, the body submitted five reports to concerned authorities on trading violations, QFMA said in its annual report. 
During 2013, QFMA received eight complaints and conducted 25 investigations in suspected cases. Surprise inspections were conducted at some organisations. The authority completed investigations into all the complaints, except one which is pending before the investigation committee. The QFMA carried out 12 investigations.
The regulatory body referred eight cases to the disciplinary action committee which imposed either fines or issued warning. 
The Appeal Committee held 11 meetings and a total of eight appeals came up. The committee adjudicated on 13 appeals. Four appeals and requests for a stay of QFMA proceedings are still under consideration by the committee.
The report said the number of registered investors in Qatar Exchange increased to 968,000 in 2013 against 914,000 in 2012, which reflected an increase in the trading volume in the bourse. The total traded value rose to QR80.1bn and the number of transactions increased to 958,646 in 2013.
The report said number of registered investors in Qatari market increased to 968,343 in 2013 compared to 964,548 in 2012. The total number of Qatari registered investors grew to 295,279 from 294,423. During 2013, the market witnessed listing of 3.39 million short-term Treasury Bills, with standard maturity periods of three, six or nine months. The year saw a drop in the value of T-bills as the normal value of the listed bills was down to QR33.9bn in 2013, compared to QR43.3bn in 2012. 
The number of traded bills in 2013 was 401,000 against 80,100 in 2012. Total number of bill transactions reached 51 in 2013 against 25  in 2012. Last year witnessed the first trading year of government bonds, where the trading values amounted to QR1.5bn of a total of 150,000 through 17 transactions.
In 2013, top 10 listed companies acquired 62.6 percent of the total traded value of all the companies. The top ten companies in terms of traded value were Industries Qatar, QNB, UDC, Barwa Real Estate, Masraf Al Rayan, Commercial Bank, Qatar Gas Transport, Doha Bank, Qatari Investment Group and Gulf International.
The Peninsula