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DFSA signs MoU with Jordan

Chris Hamblin, Editor, London, 24 October 2016

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The Dubai Financial Services Authority has signed a memorandum of understanding with the Jordan Securities Commission.

The JSC was established as an autonomous public institution in 1997 to develop, regulate, and monitor Jordan's securities market and capital market institutions. Its objective is to provide a sound and transparent market to protect holders of securities, investors and the public from irregular market practices.

In 2006 and 2007 the DFSA signed co-operative arrangements with the Insurance Commissioner and the Central Bank of Jordan and the new MoU was signed by Commissioner Wathaifi. The Jordan Securities Commission has long been an active participant in the International Organisation of Securities Commissions and, like the DFSA, was an early signatory of the IOSCO Multilateral MoU of 2002, which sets out the type of information that can be exchanged and how it ought to be exchanged; the legal capacity of the signatories to compel people to hand information over; the types of information that can be subject to compulsion; the legal capacity for sharing information; and the permissible use of information.

This is the DFSA's 98th bi-lateral MoU.

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