Jordanian Regulators Step Up Efforts to Enhance Financial Sector Transparency and Stability
The Jordan Securities Commission (JSC) has been working diligently to strengthen the country’s financial sector by implementing robust compliance regulations and ensuring transparency in the market. Article Eight of the Securities Law No. 18 of 2017 outlines the JSC’s key responsibilities, including:
- Organizing and controlling the issuance and dealing in securities
- Regulating disclosure, licensing, and accreditation affairs
- Monitoring the financial market
Regulatory Efforts
To achieve its objectives, the JSC has been issuing instructions to regulate the disclosure of listed companies on the Amman Stock Exchange, as well as financial services businesses. The regulator is committed to providing a safe and fair environment for investors by:
- Ensuring entities subject to its supervision comply with the law and regulations
- Taking legal measures against violators
Objectives
The JSC’s efforts are aimed at developing the capital market legislation to enhance safety and transparency, applying disclosure instructions, spreading investment culture, and following up on compliance with regulatory requirements. The regulator is also working to implement international standards in the capital market, including:
- Electronic trading and settlement of securities prices
- Accounting standards
- International auditing standards
Key Areas of Focus
The JSC has identified several key areas of focus, including:
- Issuing legislation to regulate and develop the capital market
- Providing transparency and disclosure in the stock market
- Developing financial services
- Organizing and encouraging mutual investment funds
- Implementing international standards
- Adopting professional conduct standards for employees
- Imposing deterrent penalties against violators
- Raising investor awareness
- Providing continuous training for staff
Complaint Handling
The regulator is also committed to receiving and investigating complaints from the public and investors, taking appropriate measures, including imposing penalties on those who violate regulatory requirements.
Outlook
With these initiatives in place, the Jordanian financial sector is poised for growth and development, providing a safe and attractive environment for investors. The JSC’s commitment to compliance regulations and transparency will help to enhance investor confidence and promote economic stability in the country.