Regulatory Alerts2017-01-01
Law No. 1 of 2017 Regulating Dealing at Foreign Stock Exchanges
The Central Bank of Jordan and the Jordan Securities Commission issue this law to restrict foreign stock exchange dealing and mediation exclusively to licensed banks and financial services companies, prohibiting non-banks from engaging in or advertising these activities. Violations trigger imprisonment of at least one year, fines ranging from 5,000 to 100,000 Jordanian Dinars, and the invalidation of non-compliant contracts requiring full reimbursement. Company directors or executives face joint liability for fund reimbursements, while the Council of Ministers is empowered to issue necessary enforcement regulations.
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