The Securities and Commodities Authority of the United Arab Emirates (SCA) has intervened substantially post the global financial crisis in 2008 to re-establish investors' confidence in the financial markets and improve corporate governance. The introduction of a myriad of laws, regulations, and directives has kept the legal aspects of corporate governance at the forefront of SCA's focus. As a result, the MSCI has upgraded the status of the UAE from a frontier market to an emerging market. Further, due largely to the promulgation of the new commercial companies law No. 2 of 2015 (CCL), SCA has been coordinating with the relevant committees of the World Bank prior to the issuance of the new corporate governance rules, which aim to complement the new CCL.