Jordan: Work Starts on Implementing Securities Law
- 08/06/201711/12/2019
- by Benjamin Filaferro
Jordan’s Securities Commission has announced it has started work to ensure the Securities Law can be implemented. The Commission is issuing and updating its legislation to ensure it complies with the 2017 Securities Law. They are also drafting governance rules for public companies and companies subject to the Commission’s control. This includes financial service companies. They are looking at investor protection regulations as well as rules on public possession and rules for mutual funds and companies. Solvency standards for financial service companies, the licensing of these companies and the professional accreditation of certified persons are also being considered. In addition, a regulation to transfer the regulatory and supervisory powers provided for under the Companies Law regarding Public Shareholding Companies and Private Shareholding Companies to the Commission and the instructions for licensing the securities trading market alongside conditions and requirements for the financial market to self-list are under review. Finally amendments to the disclosure instructions are being considered.