JSC

The Jordan Securities Commission (JSC) is the primary regulatory authority overseeing the financial markets in Jordan. Established in 1997, the JSC has played a crucial role in ensuring the stability and integrity of the country’s financial sector.

JSC History

JSC was created in 1997 under the Securities Law No. 23, which aimed to develop and regulate the securities market in Jordan. The establishment of the JSC marked a significant milestone in the country’s financial sector reform, aimed at fostering transparency, efficiency, and investor protection in the securities market.

JSC Scope and Supervision

JSC’s primary objective is to maintain the stability and integrity of Jordan’s financial sector, particularly in the area of securities. Its wide-ranging responsibilities include:

1. Licensing and regulating financial institutions: JSC oversees various financial institutions involved in the securities market, such as brokerage firms, investment funds, and asset management companies, ensuring they adhere to strict regulations and maintain market stability.
2. Supervising the securities markets: JSC is responsible for regulating and supervising the securities markets in Jordan, ensuring proper disclosure, transparency, and fair trading practices.
3. Implementing anti-money laundering and counter-terrorism financing measures: JSC enforces compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations to maintain the integrity of the financial system.
4. Protecting investors: JSC works to safeguard the interests of investors by enforcing regulations, promoting transparency, and raising awareness of potential risks.

JSC Investor Compensation Guarantees

While JSC does not directly administer an investor compensation fund, it enforces regulations that require financial institutions to meet specific capital and financial requirements, maintain segregated client accounts, and adhere to strict reporting and auditing standards. These measures help protect investors from the adverse effects of financial institution failures and ensure the stability of Jordan’s financial sector.

Organization Type

JSC is an independent public institution that operates under the jurisdiction of the Jordanian Government, particularly the Ministry of Finance. Its independent status allows JSC to make impartial decisions in the best interest of the financial markets and investors. JSC is governed by a board of commissioners, which is responsible for setting the strategic direction and ensuring effective oversight of the organization’s operations. The day-to-day operations of JSC are managed by its Chief Executive Officer, who is supported by a team of specialists and experts.