The Jordan Securities Commission (JSC) was established in 1997 as a public institution with financial and administrative autonomy to develop, regulate and monitor Jordan’s capital market.
JSC’s main goals are to protect investors in securities, to protect the capital market from the risks it might be exposed to and to regulate and develop the capital market to ensure fairness, efficiency and transparency. To achieve these goals, the JSC puts and enforces rules that govern the securities industry and ensure a sustainable market growth. The Entities that fall under JSC’s supervision include: the Amman Stock Exchange (ASE), the Securities Depository Center, Financial Services Companies, Issuers of Securities and Mutual Funds.
Since its inception, the JSC has successfully managed to set up an integrated series of regulations that positively helped to monitor compliance and to maintain and encourage sound and healthy trading in the market.
Realizing that financial markets rely on full, accurate, and timely disclosure of financial results and other information that is material to investment decisions; the JSC, in cooperation with Amman Stock Exchange, had implemented and launched the electronic XBRL disclosure system and all entities subject to the JSC's supervision, members of the ASE and the companies listed have been obligated to use the electronic disclosure system in the XBRL language in their dealings with the ASE and the JSC when providing their financial and non-financial disclosures.
In an ongoing effort to foster capital market growth, attractiveness, stability, and reliability, the JSC is continuously co-operating with the European Bank for Reconstruction and Development (EBRD). For this purpose, a road map was launched and JSC start implement its recommendations as well as the teams formed by this cooperation have made considerable progress in working on increasing investor interest, making the market more attractive to issuers, reorienting the infrastructure institutions as private sector operations, making the securities industry more competitive, strengthening the JSC regulatory processes and institutional capacity, creating more attractive investment products, constructing public outreach and education programs for investors and issuers.
The JSC is a member of the International Organization of Securities Commissions (IOSCO) and is in compliance with the applicable international standards including the IOSCO’s Objectives and Principles of Securities Regulation, the International Financial Reporting Standards (IFRS), the International Auditing Standards (IAS), the Committee on Payment and Settlement Systems (CPSS-10) Principles for Financial Market Infrastructures, the Organization for Economic Co-operation and Development (OECD) Principles of Corporate Governance and the Financial Action Task Force’s Anti-Money Laundering/Combating the Financing of Terrorism (AML/CTF) Standards.