Financial Crime World

Jordan’s Financial Institutions Must Comply with Regulatory Requirements

The Jordan Securities Commission (JSC) has been working diligently to ensure that financial institutions in Jordan comply with regulatory requirements aimed at promoting transparency and fairness in the country’s capital market.

Regulatory Responsibilities

According to Article Eight of the Securities Law No. 18 of 2017, the JSC is responsible for overseeing various aspects of the capital market, including:

  • Issuance and trading of securities
  • Disclosure by listed companies
  • Licensing and accreditation of financial services providers
  • Monitoring the overall financial market

Objectives

The commission’s objectives are clearly outlined in Article Eight of the Securities Law No. 18 of 2017, which emphasizes the need to:

  • Protect investors
  • Regulate and develop the capital market
  • Ensure justice, efficiency, and transparency

Regulatory Compliance

To achieve its objectives, the JSC has set out to develop and implement regulations and legislation aimed at enhancing the safety and transparency of the capital market. This includes:

  • Issuing instructions on disclosure requirements for listed companies
  • Regulating financial services businesses
  • Taking legal action against violators

Supervision and Monitoring

The commission supervises various entities in the capital market, including:

  • Amman Stock Exchange
  • Securities Depository Center
  • Financial services companies
  • Public shareholding companies
  • Investment funds
  • Accredited specialists

Raising Awareness and Providing Training

In addition to its regulatory responsibilities, the JSC is also working to raise awareness among investors and the public about the importance of investing in securities and the benefits of a well-regulated capital market. The commission is committed to providing continuous training for its staff and workers in financial services companies, as well as promoting best practices in the industry.

Conclusion

In conclusion, the Jordan Securities Commission’s efforts to promote regulatory compliance among financial institutions are crucial for ensuring transparency and fairness in the country’s capital market. By doing so, the JSC is working towards creating a robust and efficient financial system that benefits all stakeholders involved.