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The Practitioner Committee is a forum of exchange's stakeholders and through its sub-committees considers applications for listing, breaches of exchange Rules, and appeals from listing and disciplinary decisions.
The Committee was established with a formal charter in May 2004. Its members are representatives from potential issuers, Members, brokerage firms, banks, law and accountancy firms and other industry professionals.
The Committee was originally established to provide the exchange with advice on how best to develop its business, including its product strategy, membership strategy and its business priorities to position Dubai as a universally recognized hub for institutional finance and as the regional gateway for capital and investment to the Middle East.
In September 2005, as the exchange moved into its operational phase, the function of the Practitioner Committee was transformed. Two panels were created: Listing Panel and Disciplinary Panel. Those Practitioner Committee members wishing to join either Panel are required to enter into an Agreement with NASDAQ Dubai in relation to their role and responsibilities.
The Listing Panel consists of the Listing Committee and the Listing Appeals Committee. The role of the Listing Committee is to agree or disagree with the recommendations as regards listings/waivers made by the Listing Authority, and the Listing Appeals Committee deals with appeals from decisions of the Listing Committee.
The Disciplinary Panel consists of the Disciplinary Committee and the Disciplinary Appeals Committee. The role of the Disciplinary Committee is to consider breaches of the Listing Rules and Business Rules (trading, clearing and settlement), and the Disciplinary Appeals Committee deals with appeals from decisions of the Disciplinary Committee.
In addition to its responsibilities, the Practitioner Committee meets up to four times a year to receive updates from NASDAQ Dubai on the exchange's activities and to discuss pertinent matters.