The main financial regulator in the United Arab Emirates has confirmed that 40 brokerages are facing possible suspension from the market if they fail to comply with new rules, as it attempts to crack down on corporate governance and attract large international investors to its exchanges.

The broking houses, which operate in the UAE's two main stock markets will face disciplinary measures from the Emirates Securities and Commodities Authority unless they meet an end-of-September deadline to adapt to the new requirements.