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Duties & Responsibilities

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  1. Any person must adhere to Jordan Securities Commission (JSC) request to submit any necessary documents or to stand for testimony.
  2. No person shall publicly bid to purchase, or acquire by exchange, more than 40% of a public issuer’s securities, except by means of a public takeover bid.
  3. Unless licensed by JSC, no person may engage in business of brokerage, investment trusteeship, investment management, financial consultant, issuance manager, financial services companies & safe keeper.
  4. No person shall engage in any activity whereby the money of investors are pooled for the purpose of investing in securities or other financial assets, the management of such assets, and sharing profits on such investments, unless such person is organized as a mutual fund or an investment company.
  5. It shall be prohibited to trade in securities or influence others to trade in securities on the basis of inside information.
  6. It shall be prohibited to use inside or confidential information to attain material or moral gains whether for one own benefit or for the benefit of others.
  7. It shall be prohibited to disclose inside information to other than the competent authorities or the courts.
  8. It shall be prohibited for any person to disseminate or promote rumors or to provide false or misleading information, data or statements which may affect the price of any security or the reputation of any issuing entity.
  9. It shall be prohibited for any person solely or in collusion with others, to affect any transaction in securities with the intention of creating a false impression of the price or volume of trades of a security or any related security.
  10. It shall be prohibited for any person any deception or mismanagement relating to securities.
  11. Any non Jordanian person wishing to offer securities for public offer inside the Kingdom, & any Jordanian wishing to offer securities outside the Kingdom must have JSC consent.
  12. A letter from the person who owns or controls for the first time 5% or more of any security by the same issuing company, notifying the JSC of this within one week of the occurrence. The said person shall also notify the JSC in writing when he/she comes to own an additional 1% within one week of the occurrence, & to disclose his/her intention to buy when he/she reaches 10%.
  13. Any person wishing to own (5%) or more of the capital of a financial services company must submit to JSC a written form stating intentions he/she wishes to achieve from this possession & providing all relevant facts.
  14. Any person must conform to prospectus requirements prescribed by the JSC.